Global food giants PepsiCo and Mondelez International have remained coy on reports liking them to a potential sale of a stake in India’s Balaji Wafers.
Balaji is a wafer, namkeen and savoury snack brand that controls over 65% of the market for wafers in western India. According to local reports, the company is seeking an investor to provide a capital injection. When contacted by just-food the group declined to comment.
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Reports have suggested that the likes of PepsiCo and Mondelez could be interested in acquiring a stake in Balaji. Both firms have remained coy on the subject.
A PepsiCo spokesperson said: “”As a policy, we do not comment on speculation about mergers and acquisitions.”
Meanwhile, without commenting directly on Balaji, a Mondelez spokesperson told just-food that it was “not unusual” for the company to be contacted with such proposals.
“In India, we operate in the categories of chocolates, biscuits, beverages, gums and candy. As a global business operating in India, it’s not unusual for companies such as ours to get several such requests.”
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By GlobalData
