.Agent ImageNew Delhi: Bikaji Foods has actually gotten a 55 per cent stake in Ujjain-based snack foods and also frozen meals company Ariba Foods for Rs 60.49 crore, it stated in a news release on Friday. The Expenditure is going to make it possible for Bikaji to boost its own icy meals manufacturing abilities and also increase its market visibility, it mentioned." This calculated technique not simply enhances our capability for export growth however additionally assists our access into the QSR segment. Through combining Ariba's modern development capacities, our company intend to boost our icy snacks and savouries creating," pointed out Deepak Agarwal, MD, Bikaji Foods International. Ariba Foods creates and also offers a variety of snack foods and frozen foods such as samosas, naans, parathas, as well as sugary foods under the InDine label. The business likewise offers contract production solutions. Gaurav Baheti, Marketer of Ariba Foods commented, "This acquisition marks an amazing turning point for Ariba Foods. With our state-of-the-art creation resources and export skills, our experts are actually well-positioned to comply with Bikaji's creation needs. Our tactical place and also cutting edge production capabilities will definitely allow us to steer notable growth in the frosted food type together." Extensive Softshare acted as the syndicator and consultant for the bargain.
Published On Aug 23, 2024 at 02:25 PM IST.
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