.Rep ImageNew Delhi: Bikaji Foods has acquired a 55 per cent stake in Ujjain-based treats as well as frozen meals business Ariba Foods for Rs 60.49 crore, it claimed in a press release on Friday. The Expenditure will allow Bikaji to boost its frosted meals development abilities as well as broaden its own market presence, it claimed." This important relocation certainly not simply boosts our capacity for export development however also assists our access right into the QSR sector. Through integrating Ariba's modern development capacities, our team target to enhance our frosted snack foods and savouries creating," stated Deepak Agarwal, MD, Bikaji Foods International. Ariba Foods manufactures and markets a range of snack foods and frosted meals such as samosas, naans, parathas, and also sweets under the InDine label. The company also supplies arrangement manufacturing solutions. Gaurav Baheti, Promoter of Ariba Foods commented, "This purchase marks an interesting landmark for Ariba Foods. With our sophisticated manufacturing facilities and also export proficiency, our company are well-positioned to satisfy Bikaji's manufacturing requirements. Our key location as well as modern production capacities will certainly permit our team to drive substantial development in the frozen food items category all together." Intense Softshare worked as the syndicator as well as advisor for the package.
Released On Aug 23, 2024 at 02:25 PM IST.
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