.Representative ImageNew Delhi: Bikaji Foods has acquired a 55 percent concern in Ujjain-based snacks and also frozen meals provider Ariba Foods for Rs 60.49 crore, it stated in a news release on Friday. The Investment will definitely make it possible for Bikaji to improve its icy meals creation functionalities and also grow its market existence, it mentioned." This critical move not merely boosts our ability for export growth yet additionally sustains our access in to the QSR section. Through including Ariba's cutting edge development capabilities, we intend to improve our frozen snacks and also savouries making," said Deepak Agarwal, MD, Bikaji Foods International. Ariba Foods makes as well as offers a range of treats and also icy foods items like samosas, naans, parathas, as well as desserts under the InDine brand name. The firm also supplies agreement production companies. Gaurav Baheti, Promoter of Ariba Foods commented, "This acquisition denotes a stimulating turning point for Ariba Foods. With our innovative manufacturing locations and also export skills, we are actually well-positioned to comply with Bikaji's development demands. Our strategic location and also cutting edge production capacities are going to enable us to drive considerable growth in the icy food items group all together." Extensive Softshare acted as the syndicator as well as consultant for the package.
Posted On Aug 23, 2024 at 02:25 PM IST.
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