.Agent ImageNew Delhi: Bikaji Foods has actually acquired a 55 per cent stake in Ujjain-based snack foods and also frozen foods items provider Ariba Foods for Rs 60.49 crore, it pointed out in a news release on Friday. The Expenditure will certainly make it possible for Bikaji to enhance its own frozen meals production capacities and also grow its market visibility, it stated." This tactical action not only enhances our capability for export development but additionally assists our access right into the QSR segment. Through including Ariba's cutting edge manufacturing functionalities, our company aim to boost our frozen snack foods and also savouries producing," stated Deepak Agarwal, MD, Bikaji Foods International. Ariba Foods produces as well as offers a range of snack foods and frozen meals such as samosas, naans, parathas, and also sugary foods under the InDine label. The company also offers agreement manufacturing solutions. Gaurav Baheti, Promoter of Ariba Foods commented, "This acquisition denotes an impressive breakthrough for Ariba Foods. Along with our sophisticated creation resources as well as export knowledge, our experts are actually well-positioned to meet Bikaji's manufacturing necessities. Our important location and state-of-the-art manufacturing capacities will enable us to steer substantial development in the icy meals group together." Demanding Softshare worked as the syndicator as well as advisor for the offer.
Released On Aug 23, 2024 at 02:25 PM IST.
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