.Rep ImageNew Delhi: Bikaji Foods has acquired a 55 per-cent stake in Ujjain-based treats as well as icy foods firm Ariba Foods for Rs 60.49 crore, it mentioned in a news release on Friday. The Investment will make it possible for Bikaji to improve its own frozen meals development capabilities and also grow its own market presence, it pointed out." This calculated relocation not just strengthens our capacity for export development however additionally sustains our access into the QSR segment. Through integrating Ariba's advanced creation capacities, our company strive to improve our frozen snacks as well as savouries creating," stated Deepak Agarwal, MD, Bikaji Foods International. Ariba Foods manufactures as well as sells an assortment of treats and icy foods items including samosas, naans, parathas, and also desserts under the InDine label. The business also supplies agreement production solutions. Gaurav Baheti, Promoter of Ariba Foods commented, "This acquisition denotes an amazing landmark for Ariba Foods. With our enhanced development locations as well as export knowledge, our company are actually well-positioned to fulfill Bikaji's production requirements. Our critical location and also modern manufacturing capacities will certainly permit our company to steer substantial development in the frosted meals type with each other." Intensive Softshare acted as the syndicator and also consultant for the deal.
Released On Aug 23, 2024 at 02:25 PM IST.
Sign up with the area of 2M+ sector professionals.Subscribe to our email list to obtain most recent ideas & analysis.
Download ETRetail Application.Obtain Realtime updates.Save your preferred posts.
Check to download and install Application.