General Mills, KKR, And Goldman Sachs Among Global Firms Eyeing Minority Stake In Indian Snack Brand Balaji Wafers

Chips and namkeen company Balaji Wafers has reportedly drawn interest from global food majors and private equity investors as it explores a potential minority stake sale.

US food giant General Mills, maker of Pillsbury and Betty Crocker, has approached Balaji’s promoters with interest in acquiring a stake, according to an article by the Economic Times.

At least 10 global investors, including ADIA, KKR, Bain, Carlyle, TPG, ChrysCapital, Multiples, and Goldman Sachs, have expressed an interest in the minority stake acquisition. The stake sale could value the company at nearly ₹40,000 crore.

Founders, the Virani family, are reportedly open to selling around 10% for now. Any proceeds from the deal would be directed to a family trust, not into the company’s operations. The company is also reportedly preparing for a possible initial public offering (IPO).

Nationwide Expansion

Balaji Wafers generates an annual revenue of more than ₹6,500 crore and a net profit of close to ₹1,000 crore. It reportedly controls around 65% of the organised snack market in Gujarat, Maharashtra, and Rajasthan. The company aims to make a strong national presence.  

It is India’s third-largest salty snack brand after Haldiram’s and PepsiCo, exporting to the US, UK, and West Asia.

For updates and corrections, email newsroom[at]stocktwits[dot]com.