.Representative ImageNew Delhi: Bikaji Foods has acquired a 55 per-cent concern in Ujjain-based snack foods and frosted foods company Ariba Foods for Rs 60.49 crore, it pointed out in a press release on Friday. The Financial investment will definitely make it possible for Bikaji to enrich its frosted meals creation capabilities as well as increase its market presence, it mentioned." This important action not merely boosts our capability for export growth yet likewise sustains our entry right into the QSR sector. Through combining Ariba's cutting edge manufacturing functionalities, our experts target to enrich our frozen treats and savouries manufacturing," claimed Deepak Agarwal, MD, Bikaji Foods International. Ariba Foods creates and also sells a range of snacks and frozen meals like samosas, naans, parathas, and sugary foods under the InDine company. The provider also gives agreement production services. Gaurav Baheti, Promoter of Ariba Foods commented, "This purchase denotes a stimulating landmark for Ariba Foods. With our enhanced manufacturing locations and export know-how, our team are actually well-positioned to comply with Bikaji's creation needs. Our tactical place and modern production capacities are going to permit our company to drive notable growth in the frosted food type together." Intensive Softshare acted as the syndicator as well as consultant for the offer.
Published On Aug 23, 2024 at 02:25 PM IST.
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