.Rep ImageNew Delhi: Bikaji Foods has acquired a 55 percent concern in Ujjain-based snacks and also frozen foods items company Ariba Foods for Rs 60.49 crore, it claimed in a press release on Friday. The Assets is going to permit Bikaji to enhance its own icy food production capacities and also expand its market existence, it pointed out." This tactical move certainly not simply strengthens our capacity for export development yet also sustains our entrance right into the QSR segment. Through integrating Ariba's cutting edge production capabilities, our experts strive to improve our icy snacks and also savouries producing," pointed out Deepak Agarwal, MD, Bikaji Foods International. Ariba Foods creates and also markets an assortment of snacks and also frosted foods items like samosas, naans, parathas, as well as sweets under the InDine brand. The firm also gives agreement production companies. Gaurav Baheti, Marketer of Ariba Foods commented, "This procurement marks an interesting breakthrough for Ariba Foods. Along with our state-of-the-art creation centers as well as export knowledge, our team are actually well-positioned to fulfill Bikaji's development necessities. Our important area and also state-of-the-art manufacturing abilities will certainly enable our company to drive significant development in the frozen food group with each other." Demanding Softshare acted as the syndicator and advisor for the bargain.
Released On Aug 23, 2024 at 02:25 PM IST.
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