.Agent ImageNew Delhi: Bikaji Foods has acquired a 55 percent stake in Ujjain-based snacks as well as icy meals business Ariba Foods for Rs 60.49 crore, it stated in a press release on Friday. The Investment will definitely allow Bikaji to boost its frosted food development abilities and also extend its own market existence, it stated." This critical technique certainly not merely strengthens our ability for export development yet additionally sustains our entry into the QSR segment. By combining Ariba's cutting edge creation capacities, our company target to enrich our frozen snack foods as well as savouries making," mentioned Deepak Agarwal, MD, Bikaji Foods International. Ariba Foods creates and markets a selection of snack foods and frosted meals such as samosas, naans, parathas, as well as sugary foods under the InDine brand. The company likewise offers arrangement production solutions. Gaurav Baheti, Promoter of Ariba Foods commented, "This procurement notes a thrilling milestone for Ariba Foods. Along with our enhanced development resources as well as export proficiency, we are actually well-positioned to meet Bikaji's development needs. Our critical site and also modern manufacturing functionalities will certainly enable our team to steer substantial growth in the frozen food classification all together." Intensive Softshare acted as the syndicator and also expert for the package.
Posted On Aug 23, 2024 at 02:25 PM IST.
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