.Agent ImageNew Delhi: Bikaji Foods has acquired a 55 per-cent stake in Ujjain-based treats and frosted meals firm Ariba Foods for Rs 60.49 crore, it claimed in a press release on Friday. The Assets is going to permit Bikaji to enrich its own frosted meals manufacturing functionalities and also broaden its own market visibility, it claimed." This tactical relocation not just enhances our ability for export growth yet likewise supports our entrance right into the QSR sector. Through incorporating Ariba's state-of-the-art creation abilities, we aim to boost our frosted treats and savouries manufacturing," said Deepak Agarwal, MD, Bikaji Foods International. Ariba Foods manufactures and also offers a selection of snack foods and frosted foods including samosas, naans, parathas, as well as sweets under the InDine company. The company likewise provides agreement manufacturing solutions. Gaurav Baheti, Promoter of Ariba Foods commented, "This acquisition denotes an amazing landmark for Ariba Foods. With our enhanced creation centers as well as export competence, our company are well-positioned to meet Bikaji's production necessities. Our tactical site and advanced production functionalities will definitely enable our team to steer substantial growth in the frozen food type together." Extensive Softshare worked as the syndicator as well as expert for the deal.
Released On Aug 23, 2024 at 02:25 PM IST.
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