The Competition Commission of India (CCI) has approved the demerger of the FMCG business of Haldiram Snacks and Haldiram Foods into a new entity called Haldiram Snacks Food. Post the completion of the demerger, Haldiram Snacks Food Private Ltd (HSFPL) will be the newly incorporated entity and would house the FMCG Business currently undertaken by HFIPL and HSPL. Once completed, the demerger will lead the existing shareholders of HSPL and HFIPL to acquire 56 per cent and 44 per cent shareholding in Haldirams Snacks Food Pvt Ltd (HSFPL), the release said. Haldiram’s FMCG business includes the packaged foods business.
Haldiram Snacks Pvt Ltd (HSPL) and Haldiram Foods International Pvt Ltd (HFIPL) currently manufacture and distribute packaged food products such as snacks, namkeen, sweets, ready to eat / pre-mix food, frozen food, biscuits, non-carbonated ready to drink beverages, pasta etc., CCI said in a statement. While HSPL’s operations are primarily run by Manohar Agarwal and Madhu Sudan Agarwal, HFIPL is based out of Nagpur and its operations are primarily run by Kamalkumar Shivkisan Agrawal.
In another development, CCI approved the merger between Koninklijke DSM NV (DSM) and Firmenich International SA (Firmenich). The proposed combination involves a merger between DSM and Firmenich to form DSM-Firmenich, it said in a separate release. While DSM is the parent company of the DSM group which is active in nutrition, health and bioscience, Firmenich is a privately owned company, engaged in the production and supply of fragrances, flavours, aroma chemicals, rosin resin and turpentine. Danube is the newly incorporated wholly-owned subsidiary of DSM and it is currently not engaged in any commercial activity.
The Competition Commission of India also approved share-swap for the acquisition of the C-Flex India Entities by SBP from C-Flex, in consideration for which C-Flex will be issued certain shareholding in SBP. The proposed combination relates to the acquisition of the entire shareholding of six entities by SBP Packagings (SBP) and acquisition of certain shareholding in SBP by C-Flex. While SBP Packagings Private Limited is engaged in the manufacturing of flexible packaging materials, C-Flex group is engaged in the production and sale of flexible packaging materials.
Demerger of Haldiram’s FMCG biz gets CCI nod; existing shareholders to get stake in new co housing FMCG ops - The Financial Express
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