Monday, May 20, 2024

CCI gives green signal to demerger plan of Haldiram Group’s FMCG business

The Competition Commission of India (CCI) on Monday gives a green signal to the demerger plan of Haldiram Group, which is among the most popular brands in India for snacks and sweets. CCI approved the demerger of the FMCG business of Haldiram Snacks and Haldiram Foods into Haldiram Snacks Food.

CCI also gives a go-ahead to the acquisition of 56% and 44% shareholding in Haldiram Snacks Food by existing shareholders of Haldiram Snacks and Haldiram Foods.

Headquartered in Delhi, Haldiram Snacks s engaged in the manufacture and distribution of packaged food products in India such as snacks, namkeen, sweets, ready-to-eat / pre-mix food, frozen food, biscuits, non-carbonated ready-to-drink beverages, pasta, etc.

Manohar Agarwal and Madhu Sudan Agarwal (Delhi Family) run the operations at Haldiram Snacks.

Meanwhile, Haldiram Foods International (Haldiram Foods which is run by Kamalkumar Shivkisan Agrawal (Nagpur Family) — is similarly engaged in the manufacture and distribution of packaged foods products.

While Haldiram Snacks Food is a new newly incorporated entity that currently does not undertake any business operations.

Post the demerger transaction, Haldiram Snacks Food would undertake the FMCG Business that is currently undertaken in Delhi and Nagpur.

The FMCG business (i.e., the packaged foods business) would comprise collectively the FMCG business currently undertaken by Haldiram Snacks and Haldiram Foods and their respective subsidiaries/affiliates.

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