Tata Consumer Products and Haldiram's deny stake purchase talks amidst reports

Tata Consumer Products and Haldiram's have firmly denied any ongoing negotiations regarding the potential acquisition of a 51% stake in the renowned snacks maker and restaurant operator, putting an end to recent speculations.

Reports had surfaced suggesting that TCPL, the fast-moving consumer goods (FMCG) arm of the Tata Group, was engaged in talks with Haldiram's to acquire a majority stake. However, it appears that TCPL is not comfortable with the high enterprise value associated with such a deal.

In response to these reports, TCPL issued a regulatory filing, stating, "The company is not in negotiations as reported." This filing came as a response to queries from both the NSE and the BSE seeking clarification on the matter. Additionally, a spokesperson for Tata Consumer Products emphasized, "Tata Consumer Products does not comment on market speculation."

Haldiram's management also refrained from commenting on the situation when contacted directly.

To further dispel any lingering doubts, Haldiram's issued a comprehensive statement, firmly asserting, "We categorically deny recent reports of a 51% stake sale and wish to clarify that we are not engaged in any discussions with Tata Consumer Products."

Tata Consumer Products, with its array of brands like Tata Salt, Tata Tea, Tetley, Tata Coffee, Tata Soulfull, and Eight O'clock in the tea, coffee, and beverages segment, along with Himalayan and Gluco+ in the liquid beverages category, has been making strides in the food and beverages sector. This move has reflected the company's efforts to diversify its product portfolio and expand its presence in the industry.

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