There have been speculations on whether Tata will take over the household snack giant Haldirams According to the people aware about the matter, the consumer unit of Tata Group is in talks to buy at least 51% of popular Indian snack food maker Haldirams but is not comfortable with the $10 billion valuation sought.It is also speculated that if the deal gets to conclusion, it would see the Indian conglomerate directly compete with Pepsi and billionaire Mukesh Ambanis Reliance Retail.Notably, Haldirams, who owns a brand value as a household name in India, is also in talks with private equity firms including Bain Capital about the sale of a 10% stake, reportedly.Meanwhile, the sources have also claimed that Tata Consumer Products, which owns UK tea company Tetley and has a partnership with Starbucks in India, has baulked at the $10 billion valuation given that Haldirams annual revenue is around $1.5 billion.On the other hand, Haldirams which was a family-run business originated back to a tiny shop founded in 1937 and is well-known for its crispy snacks, sold across mom-and-pop stores.It is also anticipated that this deal would significantly expand Tatas consumer product reach.Soon after Reuters reported the news, Tata Consumer shares rose more than 3% on late Wednesday trade in Mumbai. However, both the brands have not commented on the deal so far.
