Haldiram Bhujiawala, a famous snack brand from Kolkata, has successfully raised Rs 235 crore from Bharat Value Fund (BVF). This private equity investment will help the company expand beyond its current markets in Eastern and North-Eastern India. The deal includes a minority stake in Haldiram Bhujiawala and aims to support its national growth.
A Strong Brand with a Rich Legacy
Haldiram Bhujiawala is part of the larger Haldiram family business, which was originally founded by Ganga Bhishen Agarwal. The company is now independently operated by his descendants, including Managing Director Manish Agarwal. While the Haldiram name is well-known, the family businesses are spread across different regions with different focuses. Haldiram Bhujiawala has particularly dominated the snack market in Kolkata and Eastern India, where it is known for its traditional and modern snack offerings.
A Growing Product Portfolio
Haldiram Bhujiawala, with over 60 years of experience, offers a wide range of snacks, sweets, and beverages. The brand has more than 100 products in its portfolio, including popular savory items and sweet treats. The company operates 19 retail outlets and 60 franchise stores across West Bengal, Bihar, Jharkhand, and the North-East. It also has a strong distribution network with around 2,000 distributors, reaching over two lakh retailers in India.
Expanding Beyond Snacks
In recent years, Haldiram Bhujiawala has expanded into other sectors. In 2019, it took over the India franchise for the US-based Coffee Bean and Tea Leaf chain, marking its entry into the coffee retail business. The brand has also increased its appeal to younger customers through modern marketing strategies and celebrity endorsements from Bollywood stars like Shahrukh Khan and Rashmika Mandanna.
Investment to Boost Manufacturing
The Rs 235 crore investment from Bharat Value Fund will help Haldiram Bhujiawala increase its manufacturing capacity and expand into new markets across India. Manish Agarwal, the Managing Director, expressed excitement about the future, saying that the company’s ability to revolutionize food habits and build a loyal customer base has been key to its success. The new investment will support these efforts and help grow the brand nationally.
Positive Outlook for the Future
Madhu Lunawat, CIO of Bharat Value Fund, is optimistic about the partnership, noting Haldiram Bhujiawala’s deep understanding of the market. He highlighted the company’s focus on modern branding, especially through its “Prabhuji” brand, which is expected to help the company grow in India’s booming food and consumer goods sectors.
