.Representative ImageNew Delhi: Bikaji Foods has acquired a 55 per cent stake in Ujjain-based snacks and also frozen foods provider 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 frozen food items development abilities and also extend its market presence, it stated." This key action not only boosts our capability for export development but additionally supports our entry right into the QSR sector. By including Ariba's cutting edge creation capabilities, we aim to boost our icy treats as well as savouries making," stated Deepak Agarwal, MD, Bikaji Foods International. Ariba Foods creates and markets a variety of snacks and frosted meals such as samosas, naans, parathas, and also sugary foods under the InDine company. The provider also provides contract production services. Gaurav Baheti, Marketer of Ariba Foods commented, "This purchase marks an exciting breakthrough for Ariba Foods. Along with our advanced manufacturing resources and also export competence, we are actually well-positioned to fulfill Bikaji's production needs. Our critical place and advanced production abilities will definitely permit us to steer substantial development in the frozen food items group together." Extensive Softshare acted as the syndicator as well as specialist for the bargain.
Released On Aug 23, 2024 at 02:25 PM IST.
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