.Agent ImageNew Delhi: Bikaji Foods has actually acquired a 55 percent stake in Ujjain-based snack foods as well as frozen foods provider Ariba Foods for Rs 60.49 crore, it stated in a press release on Friday. The Investment will definitely make it possible for Bikaji to improve its icy food items creation capabilities and expand its market presence, it claimed." This important move not merely enhances our ability for export growth yet additionally supports our access into the QSR segment. Through including Ariba's modern development functionalities, our experts target to boost our icy snacks as well as savouries creating," pointed out Deepak Agarwal, MD, Bikaji Foods International. Ariba Foods creates and sells a range of treats and also frosted foods like samosas, naans, parathas, and also desserts under the InDine company. The business also delivers contract production services. Gaurav Baheti, Promoter of Ariba Foods commented, "This procurement marks a thrilling turning point for Ariba Foods. With our advanced development facilities and export competence, we are actually well-positioned to meet Bikaji's creation needs. Our critical site and state-of-the-art manufacturing capacities are going to allow our company to steer substantial development in the icy food group with each other." Demanding Softshare worked as the syndicator and specialist for the bargain.
Posted On Aug 23, 2024 at 02:25 PM IST.
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