.Agent ImageNew Delhi: Bikaji Foods has gotten a 55 percent stake in Ujjain-based snacks and frozen meals business Ariba Foods for Rs 60.49 crore, it said in a news release on Friday. The Investment will definitely allow Bikaji to improve its own icy meals creation capabilities and also expand its market visibility, it pointed out." This strategic step certainly not just enhances our capacity for export development however also assists our entrance right into the QSR sector. By incorporating Ariba's advanced creation capacities, our team aim to boost our frozen snacks and savouries making," pointed out Deepak Agarwal, MD, Bikaji Foods International. Ariba Foods creates and also offers a range of snacks and frozen foods including samosas, naans, parathas, as well as sweets under the InDine company. The provider likewise gives agreement manufacturing services. Gaurav Baheti, Marketer of Ariba Foods commented, "This acquisition notes a fantastic breakthrough for Ariba Foods. With our enhanced manufacturing locations as well as export expertise, our company are well-positioned to satisfy Bikaji's manufacturing needs. Our strategic area as well as advanced manufacturing functionalities are going to enable us to steer considerable growth in the icy meals category all together." Demanding Softshare functioned as the syndicator and consultant for the deal.
Released On Aug 23, 2024 at 02:25 PM IST.
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