.Rep ImageNew Delhi: Bikaji Foods has gotten a 55 per cent stake in Ujjain-based treats and icy foods items company Ariba Foods for Rs 60.49 crore, it claimed in a press release on Friday. The Assets will make it possible for Bikaji to improve its frozen meals manufacturing abilities and grow its market visibility, it stated." This important move not simply boosts our capacity for export development but likewise sustains our entrance into the QSR segment. By combining Ariba's modern creation capacities, our company aim to boost our frosted snacks and also savouries manufacturing," claimed Deepak Agarwal, MD, Bikaji Foods International. Ariba Foods produces as well as markets a range of snacks and frosted meals like samosas, naans, parathas, as well as desserts under the InDine brand. The company also gives agreement manufacturing companies. Gaurav Baheti, Marketer of Ariba Foods commented, "This procurement denotes a thrilling landmark for Ariba Foods. With our sophisticated creation facilities as well as export knowledge, our experts are actually well-positioned to meet Bikaji's production necessities. Our calculated site and modern production capabilities will enable our company to steer substantial growth in the frozen meals classification all together." Intensive Softshare acted as the syndicator and advisor for the offer.
Released On Aug 23, 2024 at 02:25 PM IST.
Sign up with the community of 2M+ business professionals.Register for our newsletter to receive newest ideas & evaluation.
Install ETRetail Application.Obtain Realtime updates.Conserve your favourite articles.
Check to download App.