.Agent ImageNew Delhi: Bikaji Foods has gotten a 55 per-cent stake in Ujjain-based snack foods as well as frozen foods provider Ariba Foods for Rs 60.49 crore, it mentioned in a press release on Friday. The Expenditure will enable Bikaji to enhance its frozen meals development functionalities and expand its market visibility, it stated." This strategic relocation not simply enhances our capability for export growth yet also assists our entrance right into the QSR section. By including Ariba's advanced development capabilities, our experts intend to boost our frosted snacks and also savouries making," mentioned Deepak Agarwal, MD, Bikaji Foods International. Ariba Foods creates and markets a wide array of snacks as well as icy meals like samosas, naans, parathas, and sugary foods under the InDine brand. The business additionally delivers arrangement production services. Gaurav Baheti, Promoter of Ariba Foods commented, "This purchase marks a thrilling landmark for Ariba Foods. Along with our advanced creation centers and export knowledge, we are actually well-positioned to meet Bikaji's creation requirements. Our critical area as well as modern manufacturing functionalities will certainly permit our team to steer notable development in the frosted meals category with each other." Demanding Softshare worked as the syndicator as well as specialist for the deal.
Posted On Aug 23, 2024 at 02:25 PM IST.
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