.Agent ImageNew Delhi: Bikaji Foods has gotten a 55 per cent stake in Ujjain-based snacks and also frozen foods items company Ariba Foods for Rs 60.49 crore, it stated in a news release on Friday. The Assets is going to permit Bikaji to improve its own icy food items production capacities and also grow its own market existence, it mentioned." This critical relocation not just boosts our ability for export development yet likewise sustains our entry into the QSR segment. Through including Ariba's advanced manufacturing capacities, our company target to improve our frosted snacks and also savouries making," stated Deepak Agarwal, MD, Bikaji Foods International. Ariba Foods creates and sells a range of snacks and also frozen foods such as samosas, naans, parathas, and sugary foods under the InDine company. The provider also delivers agreement manufacturing services. Gaurav Baheti, Promoter of Ariba Foods commented, "This acquisition marks a thrilling breakthrough for Ariba Foods. Along with our advanced development centers as well as export proficiency, our team are actually well-positioned to meet Bikaji's creation requirements. Our calculated place and state-of-the-art manufacturing functionalities are going to allow us to drive notable growth in the frozen meals group with each other." Demanding Softshare worked as the syndicator as well as consultant for the deal.
Posted On Aug 23, 2024 at 02:25 PM IST.
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