.Rep ImageNew Delhi: Bikaji Foods has actually obtained a 55 per-cent stake in Ujjain-based snack foods and icy meals company Ariba Foods for Rs 60.49 crore, it mentioned in a press release on Friday. The Assets will definitely enable Bikaji to enrich its own frozen food development capacities and also increase its market visibility, it claimed." This calculated relocation not simply boosts our capability for export growth yet additionally assists our entrance into the QSR segment. By combining Ariba's state-of-the-art manufacturing capacities, our company target to enrich our frozen snacks and savouries manufacturing," said Deepak Agarwal, MD, Bikaji Foods International. Ariba Foods creates and also markets a wide array of snacks and also frosted meals such as samosas, naans, parathas, as well as sweets under the InDine company. The provider additionally delivers agreement production services. Gaurav Baheti, Promoter of Ariba Foods commented, "This acquisition denotes a stimulating breakthrough for Ariba Foods. With our advanced development facilities and also export knowledge, we are actually well-positioned to fulfill Bikaji's production requirements. Our calculated location and also advanced manufacturing abilities will allow us to steer substantial growth in the frozen food items group together." Extensive Softshare functioned as the syndicator and also expert for the deal.
Published On Aug 23, 2024 at 02:25 PM IST.
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