Demerger of Haldiram’s FMCG biz gets CCI nod; existing shareholders to get stake in new co housing FMCG ops - The Financial Express

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.

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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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CCI approves demerger of FMCG business of Haldiram Snacks & Haldiram Foods - Exchange4Media

The Competition Commission of India (CCI) on Monday approved the proposed combination involving the demerger of the FMCG business of Haldiram Snacks and Haldiram Foods into a new entity Haldiram Snacks Food.

According to the CCI order dated April 3, the existing shareholders of Haldiram Snacks and Haldiram Foods have acquired a 56 per cent and a 44 per cent stake, respectively, in the new company Haldiram Snacks Food.

Haldiram Snacks, based in Delhi, is a manufacturer and distributor of packaged food products in India, including snacks, namkeen, sweets, ready-to-eat/pre-mix food, frozen food, biscuits, non-carbonated ready-to-drink beverages, and pasta, among others. Its operations are primarily run by Manohar Agarwal and Madhu Sudan Agarwal.

Similarly, Haldiram Foods, based in Nagpur, is also engaged in the manufacture and distribution of packaged food products such as snacks, namkeen, sweets, ready-to-eat/pre-mix food, biscuits, cookies, non-carbonated ready-to-drink beverages, and pasta, among others. Its operations are primarily run by Kamalkumar Shivkisan Agrawal.

Following the proposed transaction, the newly incorporated Haldiram Snacks Food will undertake the FMCG business that is currently undertaken by HFIPL and HSPL, respectively. 

The demerger and acquisition are expected to have a significant impact on the FMCG market in India, as Haldiram Snacks and Haldiram Foods are two of the leading players in the industry.

The approval from the CCI is a crucial step in the process, and the companies involved are expected to move forward with the transaction in the coming months.

Haldiram was founded by Ganga Bhishen Agarwal in the 1940s who hailed from Bikaner, Rajasthan. The Agarwals had a sweet and namkeen shop and were known for their savory bhujia sev. After India gained independence, the family shifted to Kolkata from where they expanded their business pan-India. 

Agarwal’s grandchildren split in the early 1990s, dividing the brand into three three geographic entities -east, north and south- to maintain independent operations. 

“Days after the east zone entity-Bikaji-listed on the bourses, the other three brothers, who run Haldiram’s in Delhi and Nagpur decided to merge their operations to create one snacking major,” industry experts say. 

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Snacking retains flavour despite high inflation, says report | Mint - Mint

New Delhi: Rising prices of daily goods in the last year notwithstanding, Indians have continued to buy snacks as part of their grocery basket driving up demand for packaged foods in the country, according to a report on snacking habits in India by chocolate maker Mondelez.

“As inflation continues to squeeze household budgets across India, it’s clear that the economic climate is impacting food choices, as nine in ten (89%) consumers in India are concerned about inflation. A strong majority (79%) are more budget conscious than they were a year ago, with two-thirds of Indian consumers reporting that they’re paying more for groceries compared to this time last year, especially millennials. Interestingly, consumers are most likely to report they are spending more on produce and fresh foods (70%), than snack foods (63%)," Mondelez said in its state-of-snacking report for the year 2022.

For most consumers though snacking remains essential, with 86% saying they provision for snacks in their household budgets.

“What we are also seeing is, an increasing trend of actually people replacing some of their meal occasions with a snack. In the broader snacking space within that—if you look at it overall 77% people are saying they want their indulgence snack to be part of their daily life. The role that snacking is playing in people’s life is getting stronger every year," said Nitin Saini, vice president, marketing, Mondelez India.

In addition to rising prices, supply chain issues also appear to be a concern. Three-quarters of people in India have experienced a shortage or delay in receiving snacks in the last year and eight in 10 are concerned about availability of their favorite snack foods in stores. Eight in 10 say supply chain issues have caused them to be more open to trying new snacks, especially millennials.

The pandemic in general resulted in an uptick in demand for packaged foods—consumers also sought more convenience. As a result, more companies have also ramped up their packaged foods portfolio and also stepped-up investments.

Snacking is a daily staple as 76% of people in India snack at least twice a day. Three-quarters say their households make a meal out of snacks at least weekly. Early morning snacking is quite common, as 42% of Indian consumers say they eat a snack before breakfast, compared to just 24% of global consumers.

However, many are also tuning into portion sizes, saying they typically take time to portion out snacks before eating them. A strong majority of Indian consumers also say that they check nutrition labels on snacks before buying them and that doing so makes them feel like a more informed consumer.

“Mindful snacking that will continue to be an important trend going forward," said Saini. Meanwhile, digital is playing an important role as consumers are increasingly using digital not just as a source of awareness for their favorite snacks, but also to buy them, he added.

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Google To Cut Down Free Snacks And Workout Classes For Employees: Report - Jagran English

GOOGLE, a California-based technology company that has recently laid off thousands of people from its global offices as part of cost-cutting, has now started cutting down on free snacks and workout classes for its existing employees, claims a report.

According to a Business Insider report citing a memo shared by Chief Financial Officer Ruth Porat with all employees, the employees have been informed that the perks offered will now vary depending on the office locations and trends in each office.

The memo went on to detail additional cost-cutting measures, including the closure of the company's micro kitchen, which provides free snacks like cereal, espresso, and seltzer water, on days with typically much lower volume. Some of the fitness class schedules may change based on how they are utilised. The memo stated that the business would also stop purchasing laptops and other personal items.

It was stated that money would be used for tasks with a higher priority. In the memo obtained by Business Insider, Porat stated that "equipment is a significant expense for a company of our size, so we'll be able to save meaningfully here."

She continued by saying that the company would slow down on hiring and realign teams to concentrate on more urgent tasks. Amid plans to downsize some of its offices, Google also recently informed employees that some employees would have to share desk space.

Meanwhile, the company, in a blog post by CEO Sundar Pichai had laid off over 12,000 people which accounts for around 6 percent of the global workforce. Furthermore, the company through an email announced that the company would be promoting fewer employees compared to last year.

(With Agency Inputs)

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No more free snacks: Google implements cost-cutting measures to prioritise AI - Business Today

Google, the tech giant known for its great employee perks, is making changes to its companywide benefits as it seeks to reallocate funds and create cost-cutting measures. With the company laying off thousands of employees amid recession fears and prioritizing Artificial Intelligence technology, it is taking drastic steps to keep up with other search engines.

According to a Business Insider report, Chief Financial Officer Ruth Porat sent a memo to Google employees on Friday outlining the elimination or reduction of several perks, including some of the company’s micro kitchens that provide employees with free snacks like cereal, espresso, and seltzer water. According to the memo, the company will also no longer allocate funds towards purchasing personal devices like laptops.

“...equipment is a significant expense for a company of our size, we’ll be able to save meaningfully here,” Porat wrote in the memo. She added that the company would reduce its hiring pace and reallocate teams to focus on higher-priority work.

As per the reports, the modifications to perks will differ depending on the requirements of each office location and will be influenced by the usage patterns of amenities like kitchens in that particular office space. The micro kitchen will be closed on days that typically see a significantly lower volume of use, and some fitness class schedules will be shifted depending on how they are being used.

For a long time, Google workers have relished in the luxuries of laundry services, massages, company-provided meals, fitness amenities, as well as handsome salaries and stock awards, rendering it a desirable workplace. Nevertheless, these privileges may soon come to a close, as Google's CEO, Sundar Pichai, revealed earlier this year that the company would be downsizing its workforce by approximately 6 per cent, equivalent to nearly 12,000 employees.

Pichai, who has called AI the most transformative technology, said that by laying off employees, the company could “direct our talent and capital to our highest priorities.”

In addition to these changes, Google recently informed employees that some workers would have to rotate and negotiate desk space as the company looks to downsize some of its offices.

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Google To Eliminate Free Snacks, Laundry Services, And Other Perks To Employees - Here`s Why - Zee News

New Delhi: Amid layoffs spree, Google planning to announce cost-cutting measures. As per the reports, the cost of the benefits offered to google employees has grown significantly for the business. Google has therefore made the decision to reduce some of its exorbitant costs.

A number of Google's company-wide perks, including complimentary snacks from micro kitchens, laundry services, massages, and business lunches, are reportedly going to be scaled back or eliminated.

In order to reduce costs, Google will also delay employment decisions. According to a Business Insider story, Google's Chief Financial Officer, Ruth Porat, stated that the corporation must utilise the funds effectively in order to concentrate on work that is of a higher priority.

Insider has access to a document that Porat wrote to Google employees on Friday and in which he stated that the business would slow down on hiring and reallocate teams to work on higher-priority projects.

The corporation will stop investing in personal technology like laptops, according to the memo. Porat noted that the adjustments to the benefits would depend on the requirements of each office site and the trends observed there.

In light of usage patterns, Google is considering closing the micro kitchen on days with lesser activity and adjusting the times of some exercise classes. The business argues the benefit cutbacks intended to generate savings to support other improvements, such machine utilisation, even though for Google employees they may seem like a substantial change.

The wide range of benefits offered by Google, such as free snacks, laundry services, massages, and business meals, make it a desirable place to work. Sundar Pichai, the company's CEO, announced earlier this year that Google would reduce its workforce by about 6%, or about 12,000 workers, in order to focus its talent and resources on its top objectives, including artificial intelligence.

Google spokesperson Ryan Lamon commented on the subject, saying, "As we've previously mentioned, we have a business goal to achieve lasting savings through greater velocity and efficiency,

But he continued, "As part of this, we're making certain practical changes to help us stay good stewards of our resources while continuing to provide industry-leading perks, benefits, and amenities."

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Snack prices at stadiums under Madras HC scanner - Indiatimes.com

CHENNAI: An advocate and cricket lover has moved the Madras high court alleging lack of basic amenities like clean toilets and water at Chepauk Stadium, even during international matches.
He further alleged that during the recent India-Australia match conducted by the Tamil Nadu Cricket Association, snacks, water and food were sold at exorbitant prices to over 40,000 cricket fans.
Therefore, he wanted the court to direct the TNCA, BCCI, the state food and consumer protection department to ensure that clean basic amenities are provided to the fans during future matches and that food and snacks are not sold at higher price.
Admitting the plea, the first bench of Acting Chief Justice T Raja and Justice D Bharatha Chakravarthy directed the TNCA, BCCI and other authorities to file their response in two weeks.
According to the petitioner, one litre of water bottle was poured into a paper cup and was sold for 10 per 100 ml. The 500ml soft drinks were poured onto a paper cup and were sold for 50 and 100.
"Lunch, like sambar rice and curd rice were sold at Rs 100-120 depending on the demand. Such overpricing leads to huge swindling of public money which neither gets accounted to government revenue," he said. Assuming, if an average of 60 is collected above the MRP from each individual, average of 2,45,000 fans visit the upcoming matches which leads to swindling of 1.47 crore of unaccounted public money, he added.

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