The Competition Commission of India has approved the acquisition of certain issued and paid-up equity share capital of Haldiram Snacks Food Private Limited (Target) by Alpha Wave Ventures II LP and Alpha Wave IHC CI, LP (Acquirers).

The proposed transaction entails the acquisition of less than 10% of the issued and paid-up equity share capital of the Target by the Acquirers.

The Acquirers are private equity funds.

The Target (including its affiliates) is engaged in the manufacture and sale of packaged food products in India, such as snacks, sweets, ready-to-eat products, dairy products, bakery products, chocolates, and non-carbonated ready-to-drink beverages.

Detailed order of the Commission will follow.

Competition approval: minority stake acquisition in packaged food company cleared for private equity funds following review. The Competition Commission of India approved the acquisition of issued and paid-up equity share capital of Haldiram Snacks Food Private Limited by Alpha Wave Ventures II LP and Alpha Wave IHC CI, LP, comprising a minority acquisition of less than ten percent. The Acquirers are private equity funds and the Target and its affiliates are engaged in manufacture and sale of packaged food products in India, including snacks, sweets, ready-to-eat and dairy, bakery, chocolate and non-carbonated ready-to-drink beverage products.