.Rep ImageNew Delhi: Bikaji Foods has acquired a 55 per-cent concern in Ujjain-based snacks and frozen foods items company Ariba Foods for Rs 60.49 crore, it pointed out in a press release on Friday. The Expenditure will certainly permit Bikaji to enhance its icy food items creation capacities as well as broaden its market existence, it said." This tactical relocation certainly not just enhances our ability for export development yet likewise sustains our access right into the QSR section. By including Ariba's state-of-the-art production functionalities, our experts aim to boost our icy treats and also savouries making," said Deepak Agarwal, MD, Bikaji Foods International. Ariba Foods manufactures as well as sells a wide array of snack foods as well as frozen meals like samosas, naans, parathas, and also sugary foods under the InDine brand name. The firm additionally delivers arrangement production companies. Gaurav Baheti, Promoter of Ariba Foods commented, "This acquisition notes an amazing landmark for Ariba Foods. With our sophisticated production locations and export proficiency, our team are actually well-positioned to satisfy Bikaji's manufacturing necessities. Our calculated location and cutting edge production functionalities will allow our team to steer significant growth in the frosted meals category with each other." Demanding Softshare served as the syndicator as well as advisor for the deal.
Released On Aug 23, 2024 at 02:25 PM IST.
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