.Rep ImageNew Delhi: Bikaji Foods has obtained a 55 per-cent stake in Ujjain-based snack foods and icy foods items company Ariba Foods for Rs 60.49 crore, it claimed in a press release on Friday. The Investment will permit Bikaji to enhance its icy meals development functionalities and also increase its market visibility, it said." This key move certainly not only boosts our capability for export growth but additionally sustains our entrance in to the QSR sector. By including Ariba's advanced production capabilities, our experts strive to boost our frozen snacks as well as savouries making," pointed out Deepak Agarwal, MD, Bikaji Foods International. Ariba Foods makes as well as markets a selection of treats and also frozen foods items including samosas, naans, parathas, as well as sugary foods under the InDine brand name. The provider additionally supplies arrangement manufacturing services. Gaurav Baheti, Marketer of Ariba Foods commented, "This acquisition denotes an exciting breakthrough for Ariba Foods. Along with our innovative development locations and also export proficiency, we are actually well-positioned to comply with Bikaji's production demands. Our critical area and modern production abilities will definitely allow us to drive significant development in the frozen meals type with each other." Intense Softshare functioned as the syndicator and also advisor for the deal.
Published On Aug 23, 2024 at 02:25 PM IST.
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