.Agent ImageNew Delhi: Bikaji Foods has actually acquired a 55 per-cent concern in Ujjain-based snack foods and frosted foods items company Ariba Foods for Rs 60.49 crore, it claimed in a news release on Friday. The Investment will definitely make it possible for Bikaji to improve its icy food items development capacities and extend its own market presence, it pointed out." This strategic move not merely reinforces our ability for export growth yet likewise assists our access right into the QSR segment. By incorporating Ariba's advanced production capacities, our company intend to boost our frosted snack foods and savouries creating," stated Deepak Agarwal, MD, Bikaji Foods International. Ariba Foods manufactures and markets a range of snack foods and icy meals such as samosas, naans, parathas, and also sugary foods under the InDine label. The business likewise offers arrangement production solutions. Gaurav Baheti, Promoter of Ariba Foods commented, "This acquisition marks a fantastic turning point for Ariba Foods. Along with our state-of-the-art development locations as well as export expertise, we are actually well-positioned to fulfill Bikaji's development necessities. Our calculated area and also modern production abilities are going to enable our company to drive notable growth in the frozen food type with each other." Demanding Softshare acted as the syndicator as well as advisor for the bargain.
Posted On Aug 23, 2024 at 02:25 PM IST.
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