India's competition watchdog approves majority stake sale in Prataap Snacks
In September, the two investors acquired a majority 46.85% stake in the Indore-based company from venture capital firm Peak XV Partners, and announced an open offer for an additional 26% stake. Prataap, best known for its Yellow Diamond brand of chips, competes with Pepsi's Lay's brand and other snack makers in a market where local, unorganised food sellers still dominate the fried chips segment. Rival snack maker Haldiram's was in talks to acquire a majority stake in the company, with Peak XV partners looking to offload its stake, Reuters reported in January.