Alpha Wave Global receives CCI approval to acquire stake in Haldiram Snacks Food

New Delhi: The Competition Commission of India (CCI) has approved Alpha Wave Global’s proposal to acquire a minority stake in Haldiram Snacks Food Private.

According to the CCI, the proposed transaction involves the acquisition of less than 10% of the issued and paid-up equity share capital of Haldiram Snacks Food by Alpha Wave Ventures II LP and Alpha Wave IHC CI, LP.

Haldiram Snacks Food represents the consolidated business operations of the Haldiram family branches based in Delhi and Nagpur. The company manufactures and sells packaged food items, including snacks, sweets, dairy products, ready-to-eat foods, bakery items, chocolates, and non-carbonated ready-to-drink beverages.

“CCI approves the acquisition of certain issued and paid-up equity share capital of Haldiram Snacks Food Private Limited by Alpha Wave Ventures II LP and Alpha Wave IHC CI, LP,” the regulator stated in a post on X.

C-2025/04/1276 – CCI approves the acquisition of certain issued and paid-up equity share capital of Haldiram Snacks Food Private Limited by Alpha Wave Ventures II LP and Alpha Wave IHC CI, LP pic.twitter.com/FSvCsjLPCu

— CCI (@CCI_India) June 24, 2025

In March, Haldiram Snacks Food announced that it would be selling a stake to new investors, including Alpha Wave Global. This followed confirmation that Singapore-based investment firm Temasek had also acquired a minority stake in the company.

Industry estimates suggest that IHC and Alpha Wave together are acquiring around 6 % of the company at a valuation of approximately USD 10 billion (about Rs 85,000 crore), a figure considered among the highest in India’s packaged food sector.

Haldiram’s operations trace back to 1937, when it began as a small sweets and namkeen shop in Bikaner, Rajasthan. Today, its products are available in more than 80 countries.

In 2022, it was announced that the snacks businesses of Haldiram Snacks (Delhi) and Haldiram Foods International (Nagpur) would undergo a demerger followed by a merger into a single entity named Haldiram Snacks Food.