.Representative ImageNew Delhi: Bikaji Foods has acquired a 55 per-cent stake in Ujjain-based snack foods and icy foods items business Ariba Foods for Rs 60.49 crore, it stated in a press release on Friday. The Investment is going to permit Bikaji to boost its own frozen food items manufacturing abilities and increase its market existence, it claimed." This calculated move certainly not just boosts our capacity for export development however additionally assists our access right into the QSR portion. By combining Ariba's state-of-the-art production capabilities, our team strive to improve our icy snacks as well as savouries producing," said Deepak Agarwal, MD, Bikaji Foods International. Ariba Foods creates and also markets an assortment of treats and also frosted meals such as samosas, naans, parathas, and also sweets under the InDine brand. The company additionally offers agreement production companies. Gaurav Baheti, Marketer of Ariba Foods commented, "This procurement marks an amazing turning point for Ariba Foods. Along with our innovative development locations and also export experience, our experts are actually well-positioned to meet Bikaji's creation demands. Our important site as well as advanced manufacturing functionalities will definitely enable our company to steer substantial development in the frosted food category all together." Intensive Softshare worked as the syndicator and also consultant for the bargain.
Published On Aug 23, 2024 at 02:25 PM IST.
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