Blackstone Inc., a private equity firm, is in negotiations with the family that owns Haldiram's to acquire a controlling stake in the Indian snacks company. The deal could be worth up to ₹78,000 crore and would be the largest private equity buyout in India to date.
Here are some details about the deal:
Valuation
Blackstone is expected to bid around ₹40,000 crore for a 51% stake in Haldiram's. The deal could value Haldiram's at between ₹70,000 and ₹78,000 crore.
Ownership
The family will retain brand rights and operational control of the restaurants. Blackstone will get a perpetual license to control Haldiram's product business.
Due diligence
EY is conducting due diligence on Haldiram's on behalf of Blackstone. A binding term sheet could be finalized within the next 6-8 weeks. Haldiram's is a family-run business that started in 1937 as a sweets and namkeen shop in Bikaner, Rajasthan. The company has a global presence in 100 countries, including the UK, US, and Japan.