L Catterton has invested in Indian snacks business Haldiram’s under what the private-equity firm described as a “strategic partnership”.
“The collaboration aims to fortify Haldiram’s market leadership in the country and accelerate its international expansion on the back of its robust fundamentals, brand equity, and growth potential,” the US-based investor said in a statement.
L Catterton said Haldiram’s will be able to tap into the expertise of the investor’s executive chairman in India, Sanjiv Mehta, who is the former chairman, CEO and managing director of consumer goods giant Hindustan Unilever.
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The aim, L Catterton said, is to “foster a global ‘India for the world’ brand” by way of “brand building, new product development, supply chain and distribution optimisation, geographic expansion, as well as talent development”.
Mehta added: “Haldiram’s is an iconic Indian brand that resonates across the country as the undisputed leader in the ethnic snacks category and has significant potential to become a global brand in the packaged snacks space.
“We are delighted to back Haldiram’s and drive further growth in India’s evolving and flourishing consumer market, as well as galvanise its internationalisation.”
L Catterton also recently invested in another India snacks business, leading a $42m funding round in Farmley in May.
It also acquired a minority stake in Indian pet-food business Drools Pet Food Private in 2023.
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By GlobalDataOutside of India, L Catterton’s investments include the Mexican hot-sauce brand Cholula, Ferrara Candy Company, Goodles and Little Moons.
