.Representative ImageNew Delhi: Bikaji Foods has acquired a 55 per-cent risk in Ujjain-based snack foods and also frozen foods items provider Ariba Foods for Rs 60.49 crore, it claimed in a news release on Friday. The Expenditure will certainly permit Bikaji to boost its own icy food items manufacturing abilities and broaden its market existence, it said." This critical move certainly not only reinforces our capacity for export growth but additionally assists our entrance right into the QSR section. Through incorporating Ariba's cutting edge manufacturing capabilities, our experts strive to enrich our frosted treats and savouries producing," said Deepak Agarwal, MD, Bikaji Foods International. Ariba Foods manufactures and sells an assortment of snack foods as well as frozen foods including samosas, naans, parathas, as well as sugary foods under the InDine brand name. The provider also supplies agreement manufacturing companies. Gaurav Baheti, Marketer of Ariba Foods commented, "This acquisition denotes a stimulating breakthrough for Ariba Foods. Along with our sophisticated development locations as well as export skills, our experts are well-positioned to meet Bikaji's manufacturing needs. Our critical area and also advanced production capacities will enable our company to steer substantial development in the frosted food category together." Intensive Softshare served as the syndicator and also advisor for the deal.
Released On Aug 23, 2024 at 02:25 PM IST.
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