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Economic Times
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Haldiram Bhujiawala secures Rs 235 crore from Pantomath's Bharat Value Fund; sells minority stake
- Haldiram Bhujiawala sells minority stake to private equity investor Bharat Value Fund (BVF), managed by financial services firm Pantomath Capital Management, for Rs 235 crore.
- BVF is a Category II alternative investment fund (AIF) is managed by Mumbai-based Pantomath's cofounder Madhu Lunawat. This investment was made through BVF's second fund, which has a total corpus of Rs 1,650 crore.
- Haldiram Bhujiawala intends to use the funds to expand its manufacturing capabilities and enter markets beyond its current strongholds in eastern and northeastern India.
- This Kolkata-based snack brand owned by one branch of the Agarwal family, is currently managed by Manish Agarwal.
- The company retails its products under the ‘Prabhuji’ brand, offering a portfolio with over 100 stock-keeping units (SKUs), while also operating quick-service restaurants in West Bengal and other northeastern states.
- Haldiram Bhujiawala also has a distribution network of around 2,000 distributors, serving more than two lakh retailers nationwide.
- In 2019, it bought the US-based coffee chain, the Coffee Bean & Tea Leaf’s India franchise from private equity fund Everstone Capital.
- By the end of fiscal year 2025, Haldiram Bhujiawala expects to achieve revenue exceeding Rs 600 crore and is currently profitable.
- BVF focuses on investing in profitable, growth-stage companies and has recently launched its third fund with a total corpus of Rs 2,500 crore.
- This partnership lays a solid foundation for generating long-term economic benefits, ensuring a prosperous future for all shareholders.
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