-KH News Desk(cbedit@imaws.org)
Haldiram’s Group, an Indian packaged food products company, is creating a new business by spinning off its snacks and food subsidiaries. The Competition Commission of India has approved the demerger of Haldiram’s Snacks and Haldiram’s Foods, which will form Haldiram’s Snacks Food (HSFPL).
The new company’s shareholders will comprise 56% of existing shareholders in Haldiram’s Snacks and 44% from shareholders in Haldiram’s Foods. Both firms manufacture and distribute Namkeen savory snacks, frozen foods, and non-carbonated RTDs in India. There is no information about the location of the new company or whether the firms will close any manufacturing facilities. The leadership of the new snacks business was also not mentioned in the statement issued by the competition authority.
The Haldiram’s Group exports its products to North America, Europe, Oceania, and Asia. The company also has a production plant in London, from where it supplies the European market. Its first export market was the US, where it partnered with Amazon in 2019. Gaurav Mahajan, head of marketing for Haldiram’s, said the US was a “huge market” for the company because of its popularity with ex-pat Indians living there. Haldiram’s Group was founded in Rajasthan, north-west India, in 1941 as a sweet and savory snacks business. It claims its products are available in 7 million retail outlets in India. The new business will not have any impact on Haldiram’s brand.
