The proposed combination entails an acquisition of certain shareholding on a fully diluted basis
Global investment firm L Catterton has secured the approval of fair trade regulator Competition Commission of India to acquire a stake in Haldiram Snacks Food. CCI has okayed the proposed acquisition of certain shareholding on a fully diluted basis.
“The proposed combination entails an acquisition of certain shareholding (on a fully diluted basis) of Haldiram Snacks Food (target) by L Catterton India Fund (acquirer),” CCI highlighted in an official statement.
The acquirer is a scheme of L Catterton India Trust, a category ii alternative investment fund, which is registered with the Securities and Exchange Board of India (Sebi). The acquirer is engaged in making investments in India, CCI said.
The fair trade regulator added that the target (including its affiliates) is engaged in the manufacture and sale of packaged food products in India such as snacks, sweets, ready-to-eat products, dairy products, bakery products, chocolates and non- carbonated ready-to-drink beverages.
In December 2025, L Catterton said that it has entered into a strategic partnership with Haldiram and acquired a stake in the snacks and food brand. Last year, the company sold stakes to Temasek, Alpha Wave Global and International Holding Company (IHC).
Recently, Balaji Wafers, a snack food brand, entered into a definitive agreement to receive a strategic investment from General Atlantic, a leading global investor. Financial terms of the transaction were not disclosed.
With General Atlantic’s investment, Balaji Wafers will focus on further strengthening key corporate functions across the company and accelerating innovation. Drawing on General Atlantic’s global expertise in the food and consumer sectors, the company plans to accelerate its expansion across India.
