.Rep ImageNew Delhi: Bikaji Foods has actually acquired a 55 per-cent risk in Ujjain-based snack foods and icy foods items business Ariba Foods for Rs 60.49 crore, it said in a press release on Friday. The Financial investment will enable Bikaji to enhance its own frozen food development capabilities and also extend its own market presence, it stated." This tactical relocation certainly not only reinforces our ability for export growth but also sustains our entrance in to the QSR portion. Through integrating Ariba's advanced manufacturing abilities, our company strive to enrich our frozen treats and also savouries manufacturing," mentioned Deepak Agarwal, MD, Bikaji Foods International. Ariba Foods manufactures and also markets an assortment of snack foods as well as icy foods items such as samosas, naans, parathas, as well as sweets under the InDine brand name. The firm also provides arrangement production services. Gaurav Baheti, Promoter of Ariba Foods commented, "This purchase marks an exciting landmark for Ariba Foods. With our sophisticated production locations as well as export expertise, our experts are actually well-positioned to comply with Bikaji's development demands. Our tactical location and state-of-the-art production functionalities will certainly allow us to drive significant development in the icy meals category all together." Intensive Softshare acted as the syndicator as well as consultant for the offer.
Posted On Aug 23, 2024 at 02:25 PM IST.
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