.Rep ImageNew Delhi: Bikaji Foods has gotten a 55 per cent stake in Ujjain-based treats and frozen foods provider Ariba Foods for Rs 60.49 crore, it said in a press release on Friday. The Assets will definitely enable Bikaji to improve its own icy meals manufacturing capabilities as well as increase its own market visibility, it pointed out." This strategic step not simply boosts our capability for export development yet also supports our entrance into the QSR sector. By combining Ariba's advanced development capacities, our company intend to boost our frosted snack foods and also savouries producing," stated Deepak Agarwal, MD, Bikaji Foods International. Ariba Foods manufactures as well as sells a wide array of snack foods and also frozen foods items such as samosas, naans, parathas, as well as desserts under the InDine brand name. The provider likewise delivers agreement manufacturing companies. Gaurav Baheti, Marketer of Ariba Foods commented, "This acquisition denotes an interesting landmark for Ariba Foods. With our sophisticated manufacturing locations and export skills, we are well-positioned to meet Bikaji's development needs. Our strategic location and state-of-the-art manufacturing abilities are going to allow our company to steer substantial growth in the icy food category all together." Extensive Softshare functioned as the syndicator and also specialist for the deal.
Released On Aug 23, 2024 at 02:25 PM IST.
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