Details of the Approved Transaction
The approved combination involves L Catterton India Fund acquiring a certain stake in Haldiram Snacks Food Private Limited on a fully diluted basis. The transaction will result in L Catterton becoming a significant investor in one of India’s most prominent packaged food companies.
According to the CCI, the acquisition has been examined in accordance with the regulatory framework governing mergers and acquisitions to ensure that it does not adversely affect market competition.
About L Catterton India Fund
L Catterton India Fund is a scheme of L Catterton India Trust, which is registered as a Category II Alternative Investment Fund with the Securities and Exchange Board of India (SEBI). The fund focuses on making strategic investments across sectors in India, with a strong emphasis on consumer-driven businesses.
L Catterton is globally known for its investments in consumer brands and operates as a leading private equity firm with a presence across multiple markets.
Haldiram’s Market Presence
Haldiram Snacks Food Private Limited, along with its affiliates, is a major player in India’s food and FMCG landscape. The company is engaged in the manufacture and sale of a wide range of packaged food products, including snacks, sweets, ready-to-eat foods, dairy products, bakery items, chocolates, and non-carbonated ready-to-drink beverages.
Over the years, Haldiram has built a strong brand identity both in India and abroad, with a wide retail and distribution network catering to domestic and international markets.
Regulatory Clearance and Industry Impact
The CCI’s approval signals regulatory confidence in the transaction and reflects the growing interest of global and domestic investment funds in India’s food processing and FMCG sectors. Industry observers believe that the investment could support Haldiram’s expansion plans, innovation, and strengthening of its supply chain.
The packaged food segment in India continues to attract private equity interest due to rising consumer demand, urbanisation, and changing lifestyle preferences.
Next Steps
While the CCI has cleared the transaction, the Commission has stated that a detailed order outlining its assessment will follow. The completion of the acquisition will be subject to fulfilment of other customary regulatory and contractual conditions.
The development marks another milestone in India’s evolving investment landscape, particularly within the consumer goods and food processing industries.
