.Rep ImageNew Delhi: Bikaji Foods has obtained a 55 percent stake in Ujjain-based snacks as well as frosted foods company Ariba Foods for Rs 60.49 crore, it pointed out in a press release on Friday. The Assets will enable Bikaji to improve its frosted food items creation capabilities and extend its own market visibility, it mentioned." This tactical move not simply boosts our capability for export development yet likewise sustains our entrance in to the QSR section. By integrating Ariba's advanced creation functionalities, we strive to enhance our frosted treats and savouries producing," mentioned Deepak Agarwal, MD, Bikaji Foods International. Ariba Foods creates and sells a range of snacks and frozen foods like samosas, naans, parathas, as well as sugary foods under the InDine brand name. The provider also offers agreement production services. Gaurav Baheti, Marketer of Ariba Foods commented, "This acquisition marks an amazing milestone for Ariba Foods. With our innovative development locations and export proficiency, our team are well-positioned to fulfill Bikaji's development necessities. Our calculated location as well as advanced manufacturing capabilities will certainly enable our team to drive notable development in the frosted meals category with each other." Intense Softshare worked as the syndicator and advisor for the offer.
Published On Aug 23, 2024 at 02:25 PM IST.
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