India's Haldiram's seeks to buy rival Prataap Snacks  | Reuters News Agency

India’s Haldiram’s seeks to buy rival Prataap Snacks 

Reuters exclusively reported that Indian snacks maker Haldiram’s, which values itself at around $10 billion, is in talks to acquire a majority stake in listed rival Prataap Snacks to expand its presence in the thriving potato chip market. Prataap competes with Pepsi’s Lay’s brand and other snack-makers in the booming Indian market where local, unorganised food sellers still dominate the fried chips segment. Peak XV, previously known as Sequoia Capital, was eyeing an exit from the small Indian firm, Reuters reported. 

Market Impact

Prataap Snacks shares in Mumbai jumped about 17% to their highest levels since 2018 after the Reuters news report, before paring some gains to close 9.7% higher.

Article Tags
Topics of Interest: Deals
Type: Reuters Best
Sectors: Financial ServicesMergers & Acquisition
Regions: Asia
Countries: India
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Significant National Story
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