PackMan’s weekly highlights: Preparations for the festive season in full swing
This week’s highlights include a prospective acquisition of Haldiram Snacks, Mother Dairy’s D2C strategy, the future of HUL’s ice cream business, the alco-bev hope for a festive season, and Amazon’s move to create several jobs.
19 Sep 2024 | By Anhata Rooprai
Haldiram’s acquisition comes to a halt
Private equity firms like Blackstone, GIC, and Abu Dhabi Investment Authority sought to acquire significant stakes in Noida-based snacking company, Haldiram Snacks. The company was valued at USD eight-billion, but PackMan has heard that the Agarwal family was looking at a valuation of USD 11-billion. Word is that the transaction can move forward if the owners are prepared to negotiate with the PE firms.
Mother Dairy prepares for the Internet
PackMan has heard that the dairy major has been ramping up manufacturing capabilities, expanding its sourcing and distribution, and testing a home-delivery application too. Bolstered by a strong summer season, this might be the future for the dairy major, if the app’s pilot proves to stabilise.
HUL institutes independent panel to review ice-cream business
Earlier this year, Unilever announced its decision to demerge its USD 8.7-billion global ice cream business by 2025. In its wake, PackMan has learnt that HUL has instituted a panel to assess the future of the company’s ice cream business, keeping in mind the interests of all stakeholders.
Liquor industry anticipates festive furore
While the elections subdued the performance of the alco-bev market, liquor companies are prepared to bet on a festive revival in the remaining year. PackMan has learnt that this renewed confidence also comes from the 33% of Indians who are now of legal drinking age — data from the Economic Survey of India, released before the Union Budget 2024-25.
Amazon creates more than one-lakh seasonal jobs
Like many companies, in anticipation of the celebrations in the upcoming months, Amazon has made moves in preparation too. The eCommerce major has created 1,10,000 seasonal job opportunities. PackMan is happy to learn that this includes thousands of women associates and close to 2,000 persons with disabilities.