.Representative ImageNew Delhi: Bikaji Foods has actually obtained a 55 per cent concern in Ujjain-based treats and also frozen meals business Ariba Foods for Rs 60.49 crore, it pointed out in a news release on Friday. The Financial investment will allow Bikaji to enhance its frozen meals development abilities and also broaden its own market existence, it said." This critical relocation not merely strengthens our ability for export growth yet additionally supports our access in to the QSR portion. Through integrating Ariba's advanced creation capabilities, we aim to enhance our frozen snacks and savouries producing," mentioned Deepak Agarwal, MD, Bikaji Foods International. Ariba Foods creates and offers a range of snacks as well as icy meals including samosas, naans, parathas, as well as sweets under the InDine brand. The provider additionally offers contract manufacturing companies. Gaurav Baheti, Promoter of Ariba Foods commented, "This acquisition marks a stimulating landmark for Ariba Foods. With our enhanced development centers and export experience, we are actually well-positioned to fulfill Bikaji's manufacturing needs. Our critical site and cutting edge production capacities are going to enable our team to drive considerable growth in the frozen food items group all together." Intense Softshare acted as the syndicator as well as advisor for the offer.
Published On Aug 23, 2024 at 02:25 PM IST.
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