.Rep ImageNew Delhi: Bikaji Foods has actually obtained a 55 percent stake in Ujjain-based treats and also icy foods items firm Ariba Foods for Rs 60.49 crore, it pointed out in a press release on Friday. The Expenditure is going to make it possible for Bikaji to enrich its own icy food items development abilities and also grow its own market presence, it mentioned." This important action certainly not just boosts our capability for export development however likewise supports our entrance into the QSR sector. By combining Ariba's cutting edge creation abilities, we aim to boost our icy snacks and savouries making," claimed Deepak Agarwal, MD, Bikaji Foods International. Ariba Foods creates and offers a wide array of treats and also frozen foods like samosas, naans, parathas, and also sweets under the InDine brand. The firm also offers contract production services. Gaurav Baheti, Promoter of Ariba Foods commented, "This acquisition denotes an amazing breakthrough for Ariba Foods. Along with our enhanced production centers and also export experience, we are well-positioned to satisfy Bikaji's manufacturing needs. Our calculated location and also advanced production abilities are going to enable our team to steer notable growth in the icy meals group together." Extensive Softshare functioned as the syndicator and also advisor for the bargain.
Published On Aug 23, 2024 at 02:25 PM IST.
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