.Agent ImageNew Delhi: Bikaji Foods has gotten a 55 per cent stake in Ujjain-based snacks and frosted foods items provider Ariba Foods for Rs 60.49 crore, it pointed out in a press release on Friday. The Expenditure will definitely enable Bikaji to boost its icy meals creation functionalities as well as expand its own market presence, it stated." This key step not merely strengthens our capacity for export development however likewise supports our entrance in to the QSR portion. Through integrating Ariba's state-of-the-art manufacturing capabilities, our team strive to improve our icy treats and savouries manufacturing," stated Deepak Agarwal, MD, Bikaji Foods International. Ariba Foods produces as well as offers an assortment of snack foods and also frosted foods items such as samosas, naans, parathas, and sweets under the InDine label. The business also provides contract production companies. Gaurav Baheti, Promoter of Ariba Foods commented, "This acquisition notes an impressive milestone for Ariba Foods. With our state-of-the-art development facilities as well as export know-how, our company are actually well-positioned to comply with Bikaji's manufacturing demands. Our critical location as well as advanced production capabilities will definitely permit our team to steer substantial growth in the icy food items category all together." Extensive Softshare acted as the syndicator and also specialist for the offer.
Released On Aug 23, 2024 at 02:25 PM IST.
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