General Mills Inc (NYSE:GIS) is reportedly in discussions to acquire a stake in Indian snack leader Balaji Wafers, according to the Economic Times on Thursday. The American food company is joining several other potential buyers seeking a piece of the Indian snack giant.
The talks involve General Mills negotiating with Balaji’s founders to purchase a majority stake, ET reported, citing two sources familiar with the discussions. The move positions the U.S. company alongside other suitors such as PepsiCo Inc (NASDAQ:PEP), ITC Ltd (NSE:ITC), and several private equity firms aiming to gain exposure to one of India’s largest snack brands.
Balaji founder Chandu Virani told ET that the stake sale aims “to bring in professional management.” He also mentioned that the company is evaluating an initial public offering.
The potential stake sale is valued at around 40,000 crore rupees ($4.55 billion), according to the report. Balaji posted annual revenue of roughly 6,500 crore rupees and net profit close to 1,000 crore rupees in 2024-2025.
Currently, General Mills maintains a modest footprint in India with its Pillsbury-branded flours and baking products. Acquiring a stake in Balaji could provide the company a strong entry into India’s lucrative savory snack market.
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