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L Catterton invests in Haldiram’s, becomes fourth external investor
Sanjiv Mehta, former CEO and managing director of Hindustan Unilever Limited, is the executive chairman of L Catterton’s India operations.
Global consumer-focused investment firm L Catterton has entered into a strategic partnership with and invested in packaged food major Haldiram’s, as per reports. The firm has picked up a minority stake, though the deal size and valuation were not disclosed.
L Catterton manages around $39 billion in equity capital across private equity, credit, and real estate. Sanjiv Mehta, former CEO and managing director of Hindustan Unilever Limited, is the executive chairman of L Catterton’s India operations.
With this transaction, L Catterton becomes the fourth external investor to take a stake in Haldiram’s, following Singapore-based Temasek, Alpha Wave Global, and UAE-based IHC.
On March 30, 2025, Haldiram Snacks Food Pvt. Ltd announced that it had entered into an agreement with Temasek. Alpha Wave Global and IHC subsequently disclosed their investments. Together, the three firms acquired around 15 percent stake in the company.
It was earlier reported that Temasek was set to reach definitive agreements to acquire a minority stake of around 9 percent in Haldiram Snacks for approximately Rs 8,000 crore. A 9 percent stake at that price implied a valuation of around Rs 89,000 crore, or roughly $10 billion, making it one of the largest transactions in India’s consumer sector in recent years.
In its announcement, L Catterton said the partnership aims to strengthen Haldiram’s leadership in the domestic market while accelerating its international expansion. The collaboration is intended to support Haldiram’s ambition of building an “India for the World” brand by leveraging L Catterton’s global consumer sector expertise, operating capabilities, and industry network, along with local insights and talent.
Commenting on the investment, Sanjiv Mehta said Haldiram’s is an iconic Indian brand and the undisputed leader in the ethnic snacks category, with strong potential to become a global packaged snacks brand. He added that L Catterton aims to back the company’s growth in India’s expanding consumer market and support its internationalisation.
L Catterton has previously invested in several global packaged food brands, including Cholula Hot Sauce, Farmley, Ferrara Candy Company, Goodles, Kettle Foods, Kodiak, Little Moons, NotCo, Planted, and Plum Organics.
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