Haldiram has officially announced its partnership with Temasek a Singapore-based global investment firm it is a big deal for Indias largest packaged snack and sweets company. In a statement released on Sunday Haldiram confirmed that Temasek will acquire an equity stake from the existing shareholders. However the company did not disclose specific details of the transaction or the valuation. According to a PTI report citing sources Temasek is acquiring a 10% minority stake in Haldiram Snacks Food at a valuation of USD 10 billion (approximately Rs 85000 crore). This valuation is considered as the highest in Indias packaged food industry. Haldirams On Deal Haldirams the renowned Indian multinational snacks and sweets company has entered an agreement with Singapore-headquartered global investment firm Temasek. The agreement will see Temasek acquire an equity stake from the existing shareholders of Haldirams the statement said. This transaction is subject to customary regulatory approvals (and) is expected to close soon it said. After completion the deal will help Haldirams continue its expansion plans in domestic and international markets enhancing its presence in a competitive market the statement said. Commenting on the development a Haldirams group spokesperson said We are thrilled to welcome Temasek as an investor and partner in Haldirams. We look forward to working with them to harness the value they bring from their experience in the consumer space to accelerate our growth and strengthen our ability to meet evolving consumer demands. PwC investment banking team acted as the exclusive financial advisor to the transaction. Some media reports are suggesting that the promoters of Haldiram Snacks Food will divest another 6 per cent stake in Alpha Wave Global. Several PE firms including Blackstone Alpha Wave Global and Bain Capital-led consortiums were in the race to pick up a stake in Haldiram Snacks Food. Haldiram Snacks Food is the combined business of the Haldiram family -- Delhi and Nagpur. Earlier the National Company Law Tribunal had approved the process of the merger of the two sides and other regulatory approvals are awaited. Established in 1937 as a retail sweets and namkeen shop in Bikaner Rajasthan by Ganga Bhishen Agarwal Haldiram products are now sold in over 80 countries. In 2022 it was announced that the packaged snacks businesses of Delhi-based Haldiram Snacks and Nagpur-based Haldiram Foods International would be first demerged and then merged into an entity named Haldiram Snacks Food.  (With Inputs From PTI)