New Delhi: L Catterton a prominent American private equity (PE) firm has acquired a stake in Haldirams Indias largest savoury snacks and sweets brand. Singapores Temasek the UAEs IHC and Americas Alpha Wave Global have already jointly acquired more than a 10% stake in Haldirams. This deal was valued at $10 billion. According to a TOI report L Catterton has not disclosed specific details of the deal but sources say it is a minority investment. L Catterton is backed by the French luxury group LVMH and its chairman Bernard Arnaults family holding company Group Arnault. Attempts to contact a company spokesperson were unsuccessful. Indias Snacks Market This investment was made from L Cattertons $400 million India-focused fund. This fund was launched this year and aims to invest between $25 million and $150 million in India. The Indian snacks market is currently experiencing significant activity. Many large global investors are seeking a stake in this segment. The savoury snacks market in India is worth approximately $6.2 billion. Besides Haldirams Rajkot-based Balaji Wafers is also set to receive investment from General Atlantic at a valuation of Rs 35000 crore. Traditional family businesses like Haldirams and Balaji Wafers are now bringing in professional investors to expand their businesses and reach a global market. This year both the packaged food and food services sectors have seen considerable activity. Bernard Arnaults Net Worth L Catterton has invested in more than 275 consumer brands worldwide. In India it has also supported companies like Drools Farmley and Sugar Cosmetics. Its promoter Bernard Arnault is a French business magnate and the seventh richest person in the world. According to the Bloomberg Billionaires Index his net worth is $205 billion. He is the only non-American billionaire in the top 10. In this list Mukesh Ambani is at number 18 with a net worth of $106 billion and Gautam Adani is at number 20 with $83.6 billion.