Indian food giant Haldiram’s Snacks Pvt. Ltd. is underway talks with Bengaluru-based Frozen Bottle, a food chain that sells milkshakes and desserts, to invest in it with about $8 million and $10 million into Frozen Bottle, said a spokesperson aware of this development.
Haldiram’s, was founded in 1937 and largely remained in the ready to eat space and is looking to invest the large amount of money.
“Haldiram’s proposed investment into Frozen Bottle will be structured via their family office fund and will involve equity with a Strategic investment approach,” the second person added.
The traditional snacks maker, which reportedly breached ?5,000 crore mark in revenues in 2018, has also been eyeing startups in the packaged consumer goods segment, as well as a bunch of technology brands, the first person said.