U.S. food manufacturing company Kellogg is holding discussions to acquire a stake in Indian sweets and snacks manufacturer Haldiram’s.
Kellogg is seeking to diversify beyond its core breakfast cereal category and enter the ethnic snacks & sweets segment and has initiated discussions to infuse in the Delhi and Nagpur units of Haldiram’s.
The amount anticipated to be raised from the investment is about 2,500 crore rupees ($350 million).
The proposed transaction will only include Haldiram's packaged products business. German investment bank Deutsche Bank is the advisor to Haldiram’s on the deal.