General Atlantic bets on Balaji Wafers, to buy minority stake
Founded in 1981 by the Virani family as a home-grown business, Balaji Wafers has expanded beyond Gujarat to more than a dozen states, competing against domestic and global brands such as Haldiram’s and PepsiCo across retail shelves.
With a portfolio spanning potato wafers, namkeen, noodles, chikki and confectionary, Balaji Wafers also exports to around 25 countries.
Balaji Wafers plans to go for an IPO in about five years or so, founder & chairman Chandubhai Virani had said.
“General Atlantic’s investment will support our efforts to establish and operate world-class facilities,invest in innovation and build a professional team to help drive the next phase of growth for the company.
We are excited to extend our footprint across India while staying true to the quality and taste that our consumers trust,” whole-time director Keyur Virani said.
