NEW DELHI: Global private equity major General Atlantic is planning to acquire a minority stake in Balaji Wafers, a move that will strengthen key corporate functions across the Gujarat-based packaged snack company.

The industry insider said the leading global investor is picking up a 7 per cent stake in Balaji Wafers for over Rs 2,000 crore, valuing the company at around Rs 35,000 crore.

Balaji Wafers has entered into a “definitive agreement” with General Atlantic for a strategic investment, a joint statement said. Balaji Wafers will focus on further strengthening key corporate functions.