.Representative ImageNew Delhi: Bikaji Foods has actually acquired a 55 percent risk in Ujjain-based snack foods and also icy meals business Ariba Foods for Rs 60.49 crore, it pointed out in a press release on Friday. The Financial investment is going to allow Bikaji to improve its own frozen meals development functionalities as well as increase its market presence, it mentioned." This tactical move certainly not merely strengthens our capacity for export growth yet also sustains our access right into the QSR section. Through including Ariba's cutting edge development abilities, our company strive to boost our frozen snacks and savouries producing," claimed Deepak Agarwal, MD, Bikaji Foods International. Ariba Foods manufactures and offers a range of snack foods as well as frozen meals like samosas, naans, parathas, and sugary foods under the InDine brand name. The provider additionally offers agreement production solutions. Gaurav Baheti, Promoter of Ariba Foods commented, "This procurement notes an interesting landmark for Ariba Foods. With our innovative development resources and export know-how, our company are actually well-positioned to meet Bikaji's production requirements. Our calculated location and also advanced manufacturing functionalities will allow us to drive substantial growth in the frozen food category all together." Intensive Softshare served as the syndicator as well as advisor for the bargain.
Posted On Aug 23, 2024 at 02:25 PM IST.
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