.Agent ImageNew Delhi: Bikaji Foods has gotten a 55 percent stake in Ujjain-based snack foods as well as frosted meals company Ariba Foods for Rs 60.49 crore, it claimed in a press release on Friday. The Expenditure will definitely make it possible for Bikaji to enrich its own frosted meals production abilities as well as extend its market existence, it mentioned." This calculated relocation certainly not only reinforces our ability for export growth however additionally assists our entry right into the QSR segment. Through integrating Ariba's modern production capabilities, we aim to enrich our frozen snacks as well as savouries producing," pointed out Deepak Agarwal, MD, Bikaji Foods International. Ariba Foods manufactures as well as sells an assortment of snacks and frosted foods such as samosas, naans, parathas, and also desserts under the InDine brand. The company likewise gives arrangement manufacturing services. Gaurav Baheti, Promoter of Ariba Foods commented, "This acquisition marks an interesting landmark for Ariba Foods. With our sophisticated creation facilities and export competence, our company are actually well-positioned to comply with Bikaji's creation requirements. Our calculated area and modern manufacturing capacities will certainly permit our team to steer substantial development in the icy food category with each other." Demanding Softshare functioned as the syndicator and also specialist for the bargain.
Posted On Aug 23, 2024 at 02:25 PM IST.
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