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Bikaji Foods gets 55% stake in Ariba Foods for Rs 60.5 cr, ET Retail

.Agent ImageNew Delhi: Bikaji Foods has actually gotten a 55 per-cent concern in Ujjain-based snacks and frozen foods company Ariba Foods for Rs 60.49 crore, it claimed in a press release on Friday. The Financial investment will enable Bikaji to enhance its own frozen meals creation functionalities and also broaden its market presence, it claimed." This strategic technique certainly not simply enhances our capacity for export growth but additionally assists our access into the QSR segment. Through combining Ariba's modern manufacturing capabilities, our team strive to improve our icy snack foods as well as savouries producing," mentioned Deepak Agarwal, MD, Bikaji Foods International. Ariba Foods makes and markets a selection of snacks and frozen foods including samosas, naans, parathas, and also desserts under the InDine brand. The business additionally gives arrangement production services. Gaurav Baheti, Promoter of Ariba Foods commented, "This purchase denotes a stimulating landmark for Ariba Foods. Along with our advanced development locations and export experience, our experts are actually well-positioned to satisfy Bikaji's production requirements. Our calculated site and also state-of-the-art manufacturing capabilities will certainly permit our team to steer substantial development in the icy food group together." Intensive Softshare functioned as the syndicator and also expert for the bargain.
Posted On Aug 23, 2024 at 02:25 PM IST.




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