.Agent ImageNew Delhi: Bikaji Foods has actually acquired a 55 per cent stake in Ujjain-based snacks and icy meals provider Ariba Foods for Rs 60.49 crore, it claimed in a news release on Friday. The Financial investment will definitely enable Bikaji to enhance its own icy meals manufacturing abilities as well as increase its own market presence, it said." This key technique not merely enhances our capacity for export growth yet additionally supports our entry into the QSR portion. Through including Ariba's advanced creation abilities, our team strive to improve our frozen treats and savouries manufacturing," mentioned Deepak Agarwal, MD, Bikaji Foods International. Ariba Foods manufactures as well as offers a wide array of snacks and icy foods including samosas, naans, parathas, and also desserts under the InDine brand. The company also gives agreement production solutions. Gaurav Baheti, Promoter of Ariba Foods commented, "This purchase marks a stimulating turning point for Ariba Foods. With our state-of-the-art development facilities and export knowledge, our team are well-positioned to comply with Bikaji's creation requirements. Our important site and advanced production functionalities will allow us to steer substantial growth in the frosted food group all together." Extensive Softshare functioned as the syndicator and advisor for the deal.
Published On Aug 23, 2024 at 02:25 PM IST.
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