Haldiram is soon going to have a deal with an American company.
Haldiram Group, India’s largest ethnic food service company, is considering opening Western-style quick service restaurants (QSR). For this, America-based Global Restaurant Group is in talks with Inspire Brands for a special franchise deal. So that Inspire Brands’ sandwich chain Jimmy John’s can be launched in India. Two other global brands owned by Inspire Brands, global coffee and donut chain Dunkin’ and ice cream and cake shop Baskin-Robbins, already operate in India through special franchise partners with Jubilant Foodworks Limited (JFL) and Gravis Group, respectively.
Big deal may happen soon
Haldiram’s founding family, the Agarwals, want to compete with global brands like Subway and Tim Hortons, while also tapping into the growing, aspirational young consumer segment, which has a strong affinity for Western café-style formats, a source said. The name of the FMCG unit of the group is Haldiram Snacks Food Private Limited, but if this deal goes through then the QSR chain will come under the restaurant business. Haldiram’s restaurant business, worth approximately Rs 2,000 crore, currently operates more than 150 outlets in India. Haldiram’s spokesperson has refused to comment. On the other hand, Inspire Brands has also not given any official statement.
When did Jimmy John’s come into existence?
Founded in 1983, Jimmy John’s is a subway-style sandwich and wrap chain with more than 2,600 restaurants in the United States, Canada, South Korea, and the United Arab Emirates. In the US, Jimmy John’s is the largest proprietary delivery sandwich brand with total system sales of $2.6 billion, according to its website. The leadership of Inspire Brands, a multi-brand restaurant company, recently said in its post-earnings management remarks that it is looking to expand into new markets through international franchise deals. “For 40 years, Jimmy John’s has taken a simple approach to making quality sandwiches, and now it’s time to share it with the world,” Michael Haley, president and managing director (international) of Inspire Brands, said in a recent quarterly earnings call.
How many sales of Inspire brand?
This April, Kamal Aggarwal, one of the founding family members of Haldiram, acquired Wow! Led an investment of Rs 150 crore in Momo. Founded in 2018, Inspire Brands currently operates in four global markets, with global sales of $32.6 billion and 33,000 restaurants by 2024. The group has not yet announced its 2025 figures. Its portfolio also includes fast food chain Arby’s, sports bar Buffalo Wild Wings and drive-in chain Sonic.
How much profit will Haldiram make in 2024?
According to the information given to the Registrar of Companies, Haldiram Snacks Food recorded revenue of Rs 12,800 crore and net profit of Rs 1,400 crore in FY 2024. In April 2025, Haldiram merged its Delhi and Nagpur FMCG businesses into a single entity, Haldiram Snacks Food Pvt. Ltd. The formalities of the merger were completed after the snacks maker sold a minority stake to global investors Temasek, Alpha Wave Global and International Holding Company (IHC). Temasek had acquired a 10 percent stake in the business at a valuation of about $10 billion. Alpha Wave and IHC jointly bought 6 percent stake.
Food service market will be worth Rs 7.76 lakh crore
A report by the National Restaurant Association of India (NRAI) has estimated that India’s food service market will grow to Rs 7.76 lakh crore by FY 2028, from Rs 5.69 lakh crore in FY 2024. The report attributes this growth to the growing base of young consumers, continued growth in take-out outlets and food delivery platforms offering end-mile delivery.