.Agent ImageNew Delhi: Bikaji Foods has obtained a 55 percent concern in Ujjain-based snack foods and frosted foods firm Ariba Foods for Rs 60.49 crore, it claimed in a press release on Friday. The Investment will definitely allow Bikaji to enrich its own frosted food manufacturing functionalities and also expand its own market existence, it mentioned." This critical relocation certainly not just strengthens our capacity for export growth however likewise sustains our entry right into the QSR segment. Through incorporating Ariba's cutting edge development functionalities, we intend to boost our frozen treats and also savouries manufacturing," claimed Deepak Agarwal, MD, Bikaji Foods International. Ariba Foods creates and also sells a selection of treats as well as frosted foods items including samosas, naans, parathas, as well as desserts under the InDine brand name. The business additionally delivers agreement production solutions. Gaurav Baheti, Marketer of Ariba Foods commented, "This acquisition marks an amazing landmark for Ariba Foods. With our innovative development centers and also export know-how, we are well-positioned to fulfill Bikaji's development requirements. Our important location and modern production capabilities will definitely enable our team to steer significant growth in the icy food items category together." Intensive Softshare functioned as the syndicator and also specialist for the deal.
Published On Aug 23, 2024 at 02:25 PM IST.
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