French Billionaire Bernard Arnault Joins L Catterton in Haldiram Investment

India’s largest snacks and sweets brand, Haldiram, has attracted a new investor as the renowned U.S.-based private equity (PE) firm L Catterton acquires a minority stake in the company. The deal comes on the heels of earlier investments by Singapore’s Temasek, UAE-based IHC, and U.S.-based Alpha Wave Global, who together hold over 10% in Haldiram. The valuation of the deal stands at $10 billion.

About the Investment:
L Catterton, which is backed by French luxury group LVMH and its chairman Bernard Arnault’s family holding company, Group Arnault, made the investment through its India-focused $400 million fund launched earlier this year. The fund aims to invest between $25 million and $150 million in Indian consumer businesses. While L Catterton has not disclosed specific details of the stake, sources confirm that it is a minority investment.

India’s Growing Snacks Market:
The Indian snacks market is witnessing significant investor interest, currently valued at approximately $6.2 billion. Investors worldwide are keen to participate in this rapidly expanding segment. Traditional family-run businesses like Haldiram are increasingly partnering with professional investors to scale operations and expand globally. Similarly, Rajkot-based Balaji Wafers has raised investment from General Atlantic at a valuation of ₹35,000 crore.

Bernard Arnault’s Global Reach:
L Catterton has invested in over 275 consumer brands worldwide and supports several Indian companies including Drools, Farmley, and Sugar Cosmetics. Bernard Arnault, the promoter of L Catterton, is one of the world’s wealthiest individuals, ranking seventh globally with a net worth of $205 billion according to Bloomberg Billionaires Index. He is the only non-American in the top 10, while India’s Mukesh Ambani and Gautam Adani rank 18th ($106 billion) and 20th ($83.6 billion) respectively.

This strategic investment highlights the growing interest of global investors in India’s packaged foods sector, reflecting confidence in the potential of traditional family brands to compete on a global stage.