The Tata Group‘s consumer unit is negotiating to acquire a majority stake in Haldiram’s, India’s popular snack food company. However, it is reportedly not comfortable with the $10 billion valuation sought by the snack maker.
According to Reuters, if the deal becomes successful, it would position the Tata Group to compete directly with Pepsi and Mukesh Ambani‘s Reliance Retail. The acquisition is seen as an exciting opportunity for Tata to expand its footprint in the consumer space.
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Haldiram’s, a household name in India, is also reportedly in discussions with private equity firms, including Bain Capital, about the sale of a 10% stake. The company, founded in 1937, holds nearly 13% share of India’s $6.2 billion savoury snack market, on par with Pepsi’s market share.
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