MUMBAI, Aug. 19 -- Temasek-backed Haldiram Snacks Food Pvt. Ltd is scouting for acquisitions to expand its pan-India presence, particularly in the South, according to two people familiar with the matter.

"Temasek and the company's top management has sounded out bankers to show assets that are profitable with strong fundamentals for a bolt-on strategy," one of the people cited above said. Such deals allow larger firms to buy smaller businesses to expand operations, diversify offerings, or reach new markets.

"As a part of this strategy, Haldiram has the capability to acquire assets in the range of $50 million to $200 million and is well capitalized after its recent fundraise even as the business is cash flow positive," the second person s...