Prataap Snacks Limited (DIAMONDYD.BO)

India's Haldiram's seeks to buy rival Prataap Snacks, sources say

MUMBAI (Reuters) -Indian snacks maker Haldiram's is in talks to acquire a majority stake in listed rival Prataap Snacks, which is valued at $350 million, to expand its presence in the potato chip market, two people with direct knowledge of the matter said. Prataap Snacks shares in Mumbai jumped about 13% to their highest levels since 2018 after the news, before paring some gains to close 9.7% higher. Haldiram's is considering a majority stake of at least 51%, but a final number has not been decided, said the sources, who declined to be named as the discussions are confidential.