Battle for a Bite: High Stakes in Balaji Wafers
Private equity firms and FMCG companies are vying to acquire a minority stake in Balaji Wafers. Promoters, the Virani brothers, plan to dilute 10-15% stake, valuing the company at around USD 5 billion. The brand has a strong presence in India and aims for high growth.
- Country:
- India
A flurry of interest surrounds Balaji Wafers, as over a dozen firms, including prominent private equity entities, vie for a 10-15% stake in the company, according to industry insiders. The promoters, Virani brothers, are looking to dilute their stake, targeting a company valuation of around USD 5 billion.
Discussion involves PE firms like Temasek and others who are looking at minority stakes, while ITC Foods joins FMCG competitors eyeing a piece of this Gujarat-based enterprise known for its wide array of snacks. Meanwhile, notable PE firms like Blackstone and KKR have opted out of this race for equity.
Founded by the Virani brothers in 1981, Balaji Wafers grew from a cinema canteen startup to a leading Indian snack brand, boasting 65-plus products and surpassing Rs 5,000 crore in revenue. As the Indian snacks market expects extensive growth reaching Rs 1,01,811.2 crore by 2033, the battle for a stake signifies the sector's appetizing potential.
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