After Temasek, Haldiram’s adds Alpha Wave Global and IHC as investors

Haldirams Snacks Food Pvt. Ltd on Monday announced the addition of International Holding Co. (IHC) and Alpha Wave Global as investors in its ongoing equity round.

The move comes after the snacks and savouries maker agreed to sell a stake to Singapore-based global investment firm Temasek.

The latest investment from IHC and Alpha Wave Global is expected to boost the company’s financial capabilities as it pursues growth in international markets, particularly the US and the Middle East, where demand for Indian cuisine continues to grow.

The company also seeks to bolster its operations within India as part of its broader expansion strategy.

“We are excited to welcome IHC and Alpha Wave Global as partners in our journey of global growth,” a Haldiram’s spokesperson said in a statement. “The partnership represents patient capital and long-term support to Haldirams’ growth plans. With this partnership, we are well-positioned to enhance our product offerings, expand our operations, and further our mission to make Haldiram’s a household name in the Middle East and other international geographies.”

Alpha Wave Global co-founder and chairman Rick Gerson noted, “Over 90 years, the Agarwal family has built Haldiram’s into one of the most loved and iconic brands in India. We are proud to become a shareholder and partner with Haldiram’s in this next stage of their growth both domestic and internationally; while maintaining the delight they have brought to customers for close to a century.”

IHC chief executive officer (CEO) Syed Basar Shueb expressed similar enthusiasm, stating, “We are excited to join hands with Haldirams, a brand that has set the standard for excellence in the ethnic Indian snacks industry. This investment aligns with Alpha Wave’s and IHC’s strategy to support leading companies that are making a global impact. We look forward to working closely with Haldiram’s to drive innovation and expand its market presence.”

Founded in 1937 in Bikaner, Rajasthan, Haldiram’s has grown to become one of India’s largest manufacturers of packaged foods, and also established a strong international presence.