.Agent ImageNew Delhi: Bikaji Foods has acquired a 55 per cent stake in Ujjain-based snacks and icy foods business Ariba Foods for Rs 60.49 crore, it pointed out in a press release on Friday. The Expenditure will make it possible for Bikaji to enhance its frosted meals production capabilities and grow its own market presence, it claimed." This key relocation not only enhances our capability for export development but likewise assists our access into the QSR portion. By integrating Ariba's cutting edge development abilities, our team intend to enrich our frozen snacks and savouries creating," claimed Deepak Agarwal, MD, Bikaji Foods International. Ariba Foods manufactures and also sells a wide array of snacks and icy meals such as samosas, naans, parathas, as well as desserts under the InDine company. The provider also supplies agreement production solutions. Gaurav Baheti, Promoter of Ariba Foods commented, "This acquisition denotes an exciting breakthrough for Ariba Foods. With our advanced production resources as well as export competence, our team are well-positioned to fulfill Bikaji's development demands. Our important area and also state-of-the-art manufacturing abilities will permit our company to drive significant development in the frozen food items group together." Extensive Softshare served as the syndicator and also expert for the deal.
Posted On Aug 23, 2024 at 02:25 PM IST.
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