.Representative ImageNew Delhi: Bikaji Foods has actually acquired a 55 per cent stake in Ujjain-based snacks and also frozen foods firm Ariba Foods for Rs 60.49 crore, it said in a press release on Friday. The Assets is going to enable Bikaji to boost its frozen food items manufacturing abilities and extend its market visibility, it mentioned." This strategic move certainly not only reinforces our capacity for export growth but additionally sustains our access right into the QSR section. Through incorporating Ariba's advanced production functionalities, our experts aim to enhance our frosted snacks and savouries making," said Deepak Agarwal, MD, Bikaji Foods International. Ariba Foods makes and also markets a selection of snack foods and frozen foods including samosas, naans, parathas, as well as sweets under the InDine label. The firm likewise supplies contract production solutions. Gaurav Baheti, Promoter of Ariba Foods commented, "This acquisition notes an exciting landmark for Ariba Foods. Along with our state-of-the-art development facilities and export proficiency, our company are actually well-positioned to fulfill Bikaji's manufacturing needs. Our tactical place and modern manufacturing capacities will permit our team to steer considerable growth in the frosted food items classification all together." Intense Softshare served as the syndicator as well as advisor for the offer.
Published On Aug 23, 2024 at 02:25 PM IST.
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