.Agent ImageNew Delhi: Bikaji Foods has acquired a 55 per cent stake in Ujjain-based snacks and also frosted meals business Ariba Foods for Rs 60.49 crore, it mentioned in a press release on Friday. The Financial investment will certainly permit Bikaji to improve its icy food creation functionalities and also extend its own market presence, it said." This critical action certainly not only reinforces our capacity for export growth however additionally supports our entrance right into the QSR sector. Through incorporating Ariba's state-of-the-art creation functionalities, our experts intend to enrich our icy snacks as well as savouries manufacturing," pointed out Deepak Agarwal, MD, Bikaji Foods International. Ariba Foods produces and also offers a selection of snacks and icy foods items like samosas, naans, parathas, and also desserts under the InDine brand. The business also delivers deal manufacturing solutions. Gaurav Baheti, Marketer of Ariba Foods commented, "This purchase notes a stimulating breakthrough for Ariba Foods. With our advanced development resources and also export skills, our experts are well-positioned to comply with Bikaji's creation requirements. Our critical location and state-of-the-art production functionalities will definitely permit our company to drive significant growth in the frozen food category together." Intensive Softshare served as the syndicator as well as consultant for the offer.
Released On Aug 23, 2024 at 02:25 PM IST.
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