.Representative ImageNew Delhi: Bikaji Foods has acquired a 55 per-cent concern in Ujjain-based treats and icy foods items business Ariba Foods for Rs 60.49 crore, it mentioned in a news release on Friday. The Expenditure will certainly make it possible for Bikaji to improve its frosted food items manufacturing functionalities and expand its market existence, it pointed out." This strategic move certainly not only strengthens our capacity for export growth yet likewise supports our entry in to the QSR section. By incorporating Ariba's modern manufacturing capacities, our experts aim to boost our frozen treats and savouries making," pointed out Deepak Agarwal, MD, Bikaji Foods International. Ariba Foods manufactures as well as offers an assortment of snack foods as well as frozen meals such as samosas, naans, parathas, and also sugary foods under the InDine label. The company likewise supplies arrangement production services. Gaurav Baheti, Marketer of Ariba Foods commented, "This acquisition marks an amazing breakthrough for Ariba Foods. Along with our innovative manufacturing centers and export expertise, our experts are well-positioned to meet Bikaji's manufacturing necessities. Our important place and also cutting edge manufacturing capabilities will certainly allow our company to drive significant development in the frozen food classification with each other." Extensive Softshare acted as the syndicator and advisor for the bargain.
Released On Aug 23, 2024 at 02:25 PM IST.
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