.Rep ImageNew Delhi: Bikaji Foods has actually acquired a 55 per-cent stake in Ujjain-based snacks as well as frosted foods items firm Ariba Foods for Rs 60.49 crore, it claimed in a press release on Friday. The Expenditure will permit Bikaji to enhance its frozen food items development capacities and broaden its market presence, it pointed out." This key move not simply strengthens our capability for export development yet additionally supports our access in to the QSR segment. By incorporating Ariba's advanced production abilities, we strive to improve our icy snacks as well as savouries making," stated Deepak Agarwal, MD, Bikaji Foods International. Ariba Foods manufactures and offers an assortment of snacks as well as icy foods items such as samosas, naans, parathas, and sugary foods under the InDine company. The company additionally provides arrangement production solutions. Gaurav Baheti, Promoter of Ariba Foods commented, "This acquisition denotes an interesting milestone for Ariba Foods. Along with our innovative creation facilities and export knowledge, we are actually well-positioned to fulfill Bikaji's development demands. Our important place and modern production capabilities are going to permit us to steer notable development in the frozen food category together." Intensive Softshare acted as the syndicator and consultant for the deal.
Posted On Aug 23, 2024 at 02:25 PM IST.
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