.Representative ImageNew Delhi: Bikaji Foods has acquired a 55 percent concern in Ujjain-based snack foods and frozen meals firm Ariba Foods for Rs 60.49 crore, it pointed out in a news release on Friday. The Expenditure will definitely allow Bikaji to enhance its frosted meals creation capacities and grow its own market presence, it stated." This strategic step not merely enhances our capability for export growth but also assists our access right into the QSR sector. By including Ariba's advanced creation capabilities, we target to enrich our frozen snacks and savouries creating," mentioned Deepak Agarwal, MD, Bikaji Foods International. Ariba Foods manufactures and also sells a selection of treats and also frosted foods like samosas, naans, parathas, as well as sugary foods under the InDine brand. The provider also offers agreement manufacturing services. Gaurav Baheti, Promoter of Ariba Foods commented, "This purchase denotes an interesting landmark for Ariba Foods. Along with our advanced production locations and export skills, our experts are well-positioned to meet Bikaji's development requirements. Our important place and also cutting edge manufacturing capacities will certainly enable our team to drive notable growth in the frosted meals classification together." Demanding Softshare functioned as the syndicator and also advisor for the offer.
Posted On Aug 23, 2024 at 02:25 PM IST.
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