Monday, December 23, 2024
No menu items!
HomeIndustryFood & AgricultureHaldiram Bhujiawala Secures Rs 235 Crore Investment from Bharat Value Fund for...

Haldiram Bhujiawala Secures Rs 235 Crore Investment from Bharat Value Fund for Expansion Plans

- Advertisement -

Haldiram Bhujiawala, the renowned Kolkata-based snack brand, has successfully secured Rs 235 crore from Bharat Value Fund (BVF), a private equity fund managed by Pantomath Capital Management. In exchange for the investment, BVF acquired a minority stake in the company. The funds are intended to fuel Haldiram’s manufacturing expansion and facilitate its entry into new markets beyond its current strongholds in Eastern and Northeastern India.

BVF, which recently launched its third fund with a total corpus of Rs 2,500 crore, specializes in backing profitable, growth-stage companies. Haldiram Bhujiawala is the sixth investment made by the fund. The deal was completed through BVF’s second fund, which holds a corpus of Rs 1,650 crore.

Madhu Lunawat, cofounder and Chief Investment Officer at Pantomath Capital Management, highlighted that BVF’s strategy focuses on investing in family-run businesses with a rich history of business acumen. “These businesses, having operated for decades, come with deep industry knowledge, and our role is to help them scale further,” Lunawat explained. BVF’s previous investments include firms like Aniket Metals and Millennium Babycares.

The snack brand, founded by Ganga Bhishen Agarwal, remains under the ownership of one branch of the Agarwal family. The Haldiram brand has been split among family members over time, each operating independently but sharing the same origins. Manish Agarwal serves as the Managing Director of Haldiram Bhujiawala, which primarily focuses on serving the Eastern Indian market, with a particular emphasis on Kolkata.

Haldiram Bhujiawala operates its products under the ‘Prabhuji’ brand, offering over 100 stock-keeping units (SKUs). The company also runs quick-service restaurants in West Bengal and other Northeastern states. The company’s distribution network spans around 2,000 distributors, serving more than 200,000 retailers across India, with retail outlets and franchise stores in West Bengal, Bihar, Jharkhand, and the Northeastern regions.

In 2019, the company expanded its portfolio by acquiring the Indian franchise of the Coffee Bean & Tea Leaf, a US-based coffee chain, from Everstone Capital.

Looking ahead, Haldiram Bhujiawala is on track to exceed Rs 600 crore in revenue by the end of fiscal year 2025, according to Lunawat. The company is already profitable and well-positioned for continued growth.

The investment from BVF is expected to drive long-term growth and create lasting economic value for stakeholders, as stated by Manish Agarwal: “With BVF’s support, we are strategically poised to enhance shareholder value and drive growth, ensuring a prosperous future for all involved.”

RELATED ARTICLES

Most Popular

Recent Comments