$10B Indian Snack Empire Haldiram Draws IHC Investment

IHC Holding aims to invest in India’s snack food giant Haldiram, which reached a $10 billion valuation recently. Abu Dhabi’s International Holding Company (IHC) and New York’s Alpha Wave Global have jointly invested $70 million to secure a 6% stake in the Indian snack empire.

Haldiram’s journey began in 1937 in Bikaner, Rajasthan, and has evolved into one of India’s largest packaged food manufacturers. The company’s product portfolio now includes more than 400 items that range from traditional namkeens to western snacks, Indian sweets, and pickles. Singapore’s Temasek acquired a 10% stake for about $1 billion recently, which shows the growing international interest in India’s consumer market. This strategic collaboration with IHC Holding is a great way to get momentum to expand Haldiram’s presence in the US and Middle East markets.

IHC Invests in $10B Indian Snack Giant Haldiram

_{Image Source: Finance World Magazine}

Abu Dhabi-based International Holding Company (IHC) has gained a major position in India’s food sector by investing in Haldiram. IHC and New York-based Alpha Wave Global have together bought a minority stake of about 6% in the snack manufacturer. The deal values the Indian packaged food giant at roughly $10 billion (₹85,000 crore), one of the highest valuations in India’s packaged food industry.

Singapore’s Temasek had earlier acquired a 10% stake for nearly $1 billion (₹8,500 crore). The exact amount IHC invested remains private, but industry sources indicate IHC and Alpha Wave Global’s combined stake is worth around AED 257 million.

IHC’s CEO Syed Basar Shueb highlighted the deal’s importance: “This investment lines up with Alpha Wave’s and IHC’s strategy to support leading companies that are making a global impact”.

The Abu Dhabi conglomerate chose this investment to build its presence in the food and beverage sector. IHC has been broadening its portfolio across many industries, including agriculture, healthcare, and retail.

Alpha Wave Global’s Co-founder and Chairman Rick Gerson shared his excitement: “We are proud to become a shareholder and partner with Haldirams in this next stage of their growth both domestic and internationally”.

This partnership brings “patient capital and long-term support” to Haldiram’s growth plans. The new funding will help Haldiram make use of its investors’ expertise and networks to expand in key international markets. The US and Middle East show growing interest in Indian cuisine and snacks.

PwC India, the deal’s financial advisor, stated these markets “will be the primary focus areas in the company’s global expansion strategy”. IHC has previously grown its interests in the agri and F&B sectors, making the Haldiram investment a natural fit with its overall strategy.

How Will Haldiram Deploy the New Capital?

Haldiram’s plans to use new funding from IHC Holding and Alpha Wave Global to speed up its global expansion. The Indian snack giant has identified several areas where this investment will propel development.

The company will invest heavily to boost its presence in international markets. The United States and Middle East regions show strong growth potential for Indian cuisine and snacks. These markets are now central to Haldiram’s global strategy.

“The partnership represents patient capital and long-term support to Haldirams growth plans,” noted a company spokesperson. Haldiram’s product offerings and operations will expand with financial support from IHC Holding Abu Dhabi and Alpha Wave Global.

Dubai will host one of the largest saffron processing facilities in the Gulf. This facility can process up to 30 tons of saffron—a staple ingredient in Indian culinary traditions. The company plans to increase capacity to 100 tons over the next five years.

Haldiram will utilize these investors’ expertise and networks to expand internationally. The company’s leaders believe this collaboration will help make Haldiram “a household name in Middle East and other international geographies”.

IHC Holding’s CEO, Syed Basar Shueb, highlighted the partnership’s value: “We look forward to working closely with Haldirams to drive innovation and expand its market presence”. Rick Gerson, Alpha Wave Global’s Co-founder and Chairman, echoed this sentiment by emphasizing their support for Haldiram’s next growth phase in domestic and international markets.

This new funding strengthens Haldiram’s financial position as it pursues expansion. The partnership focuses on long-term sustainable growth rather than just financial gains.

IHC Holding CEO Signals Strategic Shift Toward Asian Markets

IHC Holding’s investment in Haldiram shows a fundamental change in its investment strategy. CEO Syed Basar Shueb points to a greater emphasis on Asian markets. “This investment aligns with Alpha Wave’s and IHC’s strategy to support leading companies that are making a global impact,” Shueb said, showing the company’s growing international outlook.

IHC Holding stands among the world’s largest investment firms. The company showed impressive financial results with revenue climbing to AED 92.7 billion in 2024, a big jump of 54.2% from AED 60.1 billion in 2023. The Abu Dhabi-based conglomerate’s total assets grew to AED 401.8 billion, showing a 52% increase from December 2023.

The company’s investment in Haldiram reflects its careful expansion into Asian consumer markets. Haldiram wants to use IHC’s expertise and networks to grow its presence in key international markets like the US and Middle East. These regions show rising interest in Indian cuisine and snacks, making them central to the company’s global growth plans.

IHC’s portfolio continues to grow in many sectors, including agriculture and food businesses that “drive innovation and sustainability across the food value chain”. The company manages several food-related businesses:

• NRTC, a leading importer and exporter of fresh produce in the Middle East
• Al Ain Farms, providing high-quality food products
• Canal Sugar, Egypt’s premier sugar production facility
• Asmak, a provider of fresh and frozen seafood

IHC actively seeks growth opportunities outside the Middle East, particularly in Asia, Latin America, and Africa. Shueb’s leadership has helped IHC expand its presence in these regions. The company positions itself as “a global investment powerhouse, building dynamic value networks that transcend traditional sector boundaries”.

This new focus on Asian markets fits with IHC’s broader vision of creating “dynamic value networks” that promote growth opportunities, technology, and new ideas.

Conclusion

Haldiram’s mutually beneficial alliance with IHC Holding represents one of the most important milestones in the Indian snack giant’s global expansion experience. IHC and Alpha Wave Global have invested $70 million, which shows their strong confidence in Haldiram’s $10 billion business model. The growing popularity of Indian snacks in the US and Middle East markets positions Haldiram well for substantial growth.

IHC Holding has renewed its focus on Asian markets, which lines up with their growing portfolio of agriculture and food businesses. Haldiram’s 50-year-old manufacturing capabilities and wide product range fit perfectly with IHC’s vision to create value through cross-border partnerships.

This partnership between an Indian snack empire and a major Abu Dhabi-based investment firm ended up becoming more than just financial support. The alliance will help change Haldiram from a beloved Indian brand to a global household name. IHC will also deepen its position in the growing Asian consumer markets.