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America’s Kellogg’s seek stake in India’s Haldiram

US-based packaged foods giant The Kellogg Company is in talks to pick up a significant stake in snacks maker Haldiram’s. Kellogg’s entered Indian market in 1994 and now keen to diversify its core breakfast cereal category and to invest in Delhi & Nagpur arms of Haldiram. India contributes 10% to Kellogg’s Asia-Pacific revenue and leads the Indian breakfast space with an estimated share of over 60%.  Haldiram’s Co-founders, Agarwal Family divided the business in 3 hubs among 3 brothers in Delhi, Nagpur & Kolkata. Kellogg’s wants to buy 51% stake in Haldiram. With the deal Haldiram looks to improve its global operations along with domestic. The valuations of the two target companies, excluding the restaurants business, could be around $3 billion. Statistic, Statista portal reports India’s breakfast cereal market generate $1.16 Bn. Revenue is expected to grow by 6.4% annually by 2021. Haldiram recently partnered with French bakery Chain Brioche Doree.

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