Daijiworld Media Network - Mumbai

Mumbai, Jan 22: In a major development for India’s packaged snacks sector, US-based private equity firm General Atlantic has acquired a stake in Gujarat-based Balaji Wafers, signaling strong investor confidence in the country’s booming snack market. The investment amount has not been disclosed, but it is set to boost corporate functions, accelerate product innovation, and leverage General Atlantic’s global expertise to drive Balaji Wafers’ expansion plans.

The move comes at a time when India’s packaged snack segment is witnessing a surge in demand, driven by households seeking affordable, convenient, and high-quality food products. Earlier reports had suggested that Balaji Wafers was exploring a minority stake deal that could value the company between Rs 38,000-40,000 crore.

Shantanu Rastogi, Managing Director and Head of India at General Atlantic, said, “We see significant growth potential in India’s packaged snacks market as households increasingly seek affordable, convenient, and high-quality food products.”

Founded in 1981 by the Virani brothers—Chandubhai, Bhikhubhai, and Kanubhai, Balaji Wafers began as a home-based venture and has grown into one of India’s largest packaged snack brands. The company is known for maintaining consistent quality, taste, and availability, driven by ongoing investments in automation, supply chain, product innovation, and nurturing talent.
Its diverse product portfolio includes:

• Namkeen and western snacks

• Potato wafers

• Noodles

• Chikki and papad

• Confectionery products

Chandubhai Virani, Founder and Chairman of Balaji Wafers, said, “General Atlantic’s deep understanding of consumer businesses, track record of working with founder families, and long-term approach to value creation align perfectly with our vision for Balaji Wafers.”

The investment underscores a rising trend in the Indian consumer goods sector, with global and domestic investors showing growing interest in companies like Haldiram, Iscon Balaji, Theobroma, and VIP Industries. Several other companies, including HyFun Foods and Ratnadeep Retail, are exploring external capital to fuel growth and scale operations.

About General Atlantic

Managing approximately $118 billion in assets across growth equity, credit, climate, and sustainable infrastructure strategies, General Atlantic operates in 20 countries with over 900 professionals. Its India portfolio includes investments in Reliance Retail, Absolute Barbecue, PhonePe, Amagi, ASG Eye Hospitals, and Acko.

With this strategic partnership, Balaji Wafers is poised for accelerated growth, reinforcing its leadership in India’s dynamic snack industry.