.Representative ImageNew Delhi: Bikaji Foods has gotten a 55 per-cent stake in Ujjain-based snacks and also frozen meals firm Ariba Foods for Rs 60.49 crore, it pointed out in a news release on Friday. The Financial investment is going to make it possible for Bikaji to enhance its own frozen food items manufacturing functionalities and extend its market visibility, it pointed out." This strategic move not simply strengthens our capacity for export development but additionally assists our access right into the QSR sector. Through including Ariba's state-of-the-art creation functionalities, our company aim to boost our frozen snacks and also savouries manufacturing," pointed out Deepak Agarwal, MD, Bikaji Foods International. Ariba Foods creates and also sells an assortment of snacks and frosted foods items including samosas, naans, parathas, as well as sugary foods under the InDine label. The business additionally delivers contract production solutions. Gaurav Baheti, Promoter of Ariba Foods commented, "This acquisition notes a stimulating milestone for Ariba Foods. Along with our advanced creation facilities as well as export expertise, our company are actually well-positioned to satisfy Bikaji's manufacturing necessities. Our key area and also modern manufacturing capabilities will certainly enable our company to drive considerable development in the frozen food items type together." Intensive Softshare acted as the syndicator as well as expert for the deal.
Published On Aug 23, 2024 at 02:25 PM IST.
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