Tata Group’s consumer unit is in talks to acquire a 51% stake in Indian snack giant Haldiram’s, but concerns arise over the $10 billion valuation, reported media quoting a report.
This move would thrust Tata into direct competition with Pepsi and Mukesh Ambani’s Reliance Retail. Haldiram’s, a household name in India, is also exploring selling a 10% stake to private equity firms. While Tata aims for a larger stake, the high asking price has raised doubts. Haldiram’s holds a significant share in India’s $6.2 billion savory snack market, alongside Pepsi. The company also has a global presence and operates around 150 restaurants.
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