.Representative ImageNew Delhi: Bikaji Foods has obtained a 55 per cent concern in Ujjain-based snacks as well as frozen foods items firm Ariba Foods for Rs 60.49 crore, it stated in a news release on Friday. The Investment is going to permit Bikaji to enhance its own icy meals production functionalities and also extend its own market existence, it said." This important move certainly not just reinforces our capability for export growth but also supports our access in to the QSR portion. Through combining Ariba's cutting edge development abilities, our team strive to improve our icy treats and savouries manufacturing," pointed out Deepak Agarwal, MD, Bikaji Foods International. Ariba Foods manufactures as well as offers a variety of snack foods as well as icy meals including samosas, naans, parathas, and also sweets under the InDine brand name. The provider likewise provides agreement manufacturing services. Gaurav Baheti, Marketer of Ariba Foods commented, "This procurement notes an amazing milestone for Ariba Foods. With our state-of-the-art manufacturing facilities as well as export knowledge, we are well-positioned to satisfy Bikaji's development requirements. Our strategic area as well as modern manufacturing capabilities will enable our team to drive notable growth in the frozen meals classification all together." Intense Softshare worked as the syndicator and advisor for the deal.
Released On Aug 23, 2024 at 02:25 PM IST.
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