Balaji Wafers

Global private equity major General Atlantic is planning to acquire a minority stake in Balaji Wafers, a move that will strengthen key corporate functions across the Gujarat-based packaged snack company. The industry insider said the leading global investor is picking up a 7 per cent stake in Balaji Wafers for over Rs 2,000 crore, valuing the company at around Rs 35,000 crore. Balaji Wafers has entered into a "definitive agreement" with General Atlantic for a strategic investment, according to a joint statement. With General Atlantic's investment, Balaji Wafers will focus on further strengthening key corporate functions across the company and accelerating innovation. Drawing on General Atlantic's global expertise in the food and consumer sectors, the company plans to accelerate its expansion across India, the statement added. "General Atlantic's investment will support our efforts to establish and operate world-class facilities, invest in innovation and build a professional team to

General Atlantic has agreed to acquire a minority stake in Balaji Wafers, backing the homegrown snack maker's next phase of innovation and expansion across India

The Virani brothers - Chandubhai, Bhikhubhai, and Kanubhai - who founded and control the company, are considering a partial stake sale to fund expansion across India

ITC and PepsiCo also explored the deal but later withdrew as they were not keen on a minority stake

Balaji Wafers is exploring a partial stake sale, with global players like General Mills, ITC, PepsiCo, and top private equity firms in talks as the company plans for expansion and IPO

Balaji Wafers in talks with global PE giants, eyeing up to 10% stake sale at ₹40,000 crore valuation; ITC lone FMCG suitor, IPO planned in 5-6 years

Balaji Wafers, known for its strong presence in western and central India, reported over ₹5,400 crore revenue in FY24, making it a top target for investors eyeing the snacks market

PE funds, flush with record capital, are eyeing opportunities in India's branded consumer, technology, and healthcare sectors

According to Bizom, four out of six categories tracked are witnessing downtrading in rural markets, while five of six in urban markets have also seen a similar trend.

Experts say that this is the best time for a small brand to aim big, but warn that Balaji has two big challenges to contend with

It is the snack maker's third plant and first outside Gujarat set up at a project cost of Rs 400 crore