.Agent ImageNew Delhi: Bikaji Foods has obtained a 55 per-cent stake in Ujjain-based snack foods and also icy foods firm Ariba Foods for Rs 60.49 crore, it mentioned in a news release on Friday. The Expenditure is going to permit Bikaji to enrich its icy meals creation capacities as well as expand its own market visibility, it mentioned." This key relocation not just boosts our capability for export development but likewise supports our entry in to the QSR segment. Through integrating Ariba's advanced development capacities, our company intend to boost our frozen treats and also savouries producing," said Deepak Agarwal, MD, Bikaji Foods International. Ariba Foods produces and offers a selection of snack foods and also icy foods including samosas, naans, parathas, and sweets under the InDine brand. The firm additionally supplies agreement manufacturing solutions. Gaurav Baheti, Promoter of Ariba Foods commented, "This acquisition denotes an impressive milestone for Ariba Foods. Along with our innovative production centers as well as export experience, we are well-positioned to meet Bikaji's development requirements. Our key place and advanced production abilities are going to permit our team to steer significant growth in the frosted meals group together." Intense Softshare worked as the syndicator and specialist for the package.
Released On Aug 23, 2024 at 02:25 PM IST.
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