.Rep ImageNew Delhi: Bikaji Foods has actually gotten a 55 percent stake in Ujjain-based snack foods and icy foods company Ariba Foods for Rs 60.49 crore, it pointed out in a news release on Friday. The Expenditure is going to allow Bikaji to improve its own frozen food items creation capabilities as well as expand its own market visibility, it claimed." This key relocation not simply enhances our capability for export growth yet additionally assists our access right into the QSR portion. By including Ariba's modern manufacturing abilities, our experts strive to enhance our frozen snacks and also savouries manufacturing," mentioned Deepak Agarwal, MD, Bikaji Foods International. Ariba Foods makes and also sells a wide array of treats and frozen meals including samosas, naans, parathas, as well as desserts under the InDine brand. The business also provides deal production services. Gaurav Baheti, Promoter of Ariba Foods commented, "This acquisition marks a stimulating turning point for Ariba Foods. Along with our advanced manufacturing resources and also export expertise, our team are actually well-positioned to satisfy Bikaji's production requirements. Our critical place as well as advanced manufacturing capacities are going to enable us to drive notable development in the frosted food classification together." Intensive Softshare served as the syndicator and consultant for the offer.
Posted On Aug 23, 2024 at 02:25 PM IST.
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