Mumbai, Jan. 22 -- US-based private equity firm General Atlantic has acquired a stake in snacking brand Balaji Wafers, the companies said in a statement on Thursday.

While the financial terms of the transaction were not disclosed, the statement said Balaji Wafers, with this investment, will strengthen key corporate functions, accelerate innovation, and leverage the PE firm's expertise in the food and consumer sectors to drive its expansion plans.

The development comes a few months after Mint reported that the Gujarat-based maker of chips, wafers, noodles and confectionery is evaluating a minority deal that would value the overall company anywhere between Rs.38,000 and Rs.40,000 crore.

"We see significant growth potential in India's pac...