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Haldiram’s, a prominent Indian snacks maker, is reportedly in early-stage talks to acquire a majority stake in Prataap Snacks, a listed rival valued at $350 million. The potential acquisition aims to enhance Haldiram’s presence in the potato chip market.
Prataap Snacks shares surged about 13% , reaching their highest levels since 2018, following the news. The discussions are in the initial phase, and no specific valuation has been disclosed, but it could potentially be at a premium to Prataap’s current stock price. Haldiram’s is contemplating a majority stake of at least 51%, although a final decision on the percentage has not been determined. The sources providing this information have chosen to remain anonymous due to the confidential nature of the discussions.
Prataap is best known for its Yellow Diamond brand of chips and competes with Pepsi’s Lay’s brand and other snack-makers in a market where local, unorganised food sellers still dominate the fried chips segment