.Representative ImageNew Delhi: Bikaji Foods has acquired a 55 per cent concern in Ujjain-based treats and also frosted foods firm Ariba Foods for Rs 60.49 crore, it pointed out in a news release on Friday. The Financial investment will definitely make it possible for Bikaji to improve its own frosted meals manufacturing capabilities and also expand its market visibility, it stated." This important step not merely reinforces our capacity for export growth yet additionally sustains our entrance right into the QSR sector. Through including Ariba's state-of-the-art manufacturing functionalities, we intend to enhance our frozen snacks and also savouries manufacturing," claimed Deepak Agarwal, MD, Bikaji Foods International. Ariba Foods manufactures and also sells a variety of snack foods and also frozen foods such as samosas, naans, parathas, and sweets under the InDine brand. The firm likewise provides contract production services. Gaurav Baheti, Marketer of Ariba Foods commented, "This procurement denotes a thrilling milestone for Ariba Foods. Along with our advanced development locations and export skills, our team are well-positioned to meet Bikaji's manufacturing necessities. Our important location as well as advanced manufacturing abilities will enable us to drive substantial development in the frosted meals type with each other." Extensive Softshare worked as the syndicator and also advisor for the offer.
Published On Aug 23, 2024 at 02:25 PM IST.
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