Kolkata-based Haldiram Bhujiawala has closed its private placement round, with Pantomath’s Bharat Value Fund (BVF) investing Rs 2350 million in the company for a minority stake. Haldiram Bhujiawala retails its products under the brand Prabhuji.
The snacks market, one of the fastest-growing sectors in India, was estimated to be worth Rs 426 billion in FY24, which is expected to reach Rs 955 billion by FY32, registering a compound annual growth rate (CAGR) of 11 per cent. Organised players in this market, who enjoy a substantial market share, are expected to be the key contributors to this growth. Their persistent focus on product diversification, coupled with a strong commitment to quality, convenience, and safety standards, will position them for further expansion.
Haldiram Bhujiawala has a legacy of more than 6 decades in the snacks and savoury industry. The Company retails its products under the brand name of Prabhuji offering a broad product portfolio with 100 plus SKUs, which enjoys strong brand recognition, especially in Eastern and North-Eastern Indian markets besides running the quick service restaurants in West Bengal and North-Eastern States.
The company said that the modern brand Prabhuji has become the buzzword, which is backed by its new-age marketing strategy. The brand ambassadors are Bollywood actors, Shahrukh Khan and Rashmika Mandanna.
Manish Agarwal, Managing Director, Haldiram Bhujiawala, said on the occasion, “In the last 60 plus years, we have cultivated a loyal customer base by offering delectable snacks and sweets. Our Company has been a trendsetter, revolutionizing food habits and tastes of India.”
BVF, one of the prominent fund houses in the mid-market sector, focuses on investing in profitable, growth-stage companies to foster long-term success. The investment in Haldiram marks the BVF’s sixth overall investment and 3rd investment in consumer space within the last 3 months. Earlier last month, BVF invested in a personal hygiene brand, BumTum (Millennium Babycare), and a consumer durables company, Aniket Metals, amongst others.
Speaking about its investments in Haldiram Bhujiawala, Madhu Lunawat, Chief Information Officer of Bharat Value Fund said, “We are pleased to partner with Haldiram Bhujiawala. With over six decades of market insight since its founding as a proprietorship in 1958, the company has a deep understanding of consumer behaviour and market trends. The new generation’s sharp focus on the modern brand, Prabhuji is particularly noteworthy. We are highly optimistic about the food, and consumer goods sectors, and Haldiram is well-positioned to achieve substantial growth in the years ahead.”
_20241126151941_original_image_27.webp)
