.Agent ImageNew Delhi: Bikaji Foods has obtained a 55 per-cent concern in Ujjain-based snacks and frozen foods business Ariba Foods for Rs 60.49 crore, it stated in a news release on Friday. The Financial investment will permit Bikaji to enrich its own icy food items manufacturing functionalities and expand its market presence, it pointed out." This strategic relocation certainly not simply strengthens our ability for export development however also assists our entrance into the QSR section. By combining Ariba's state-of-the-art development capacities, our experts aim to improve our frozen snack foods as well as savouries producing," mentioned Deepak Agarwal, MD, Bikaji Foods International. Ariba Foods makes and also sells a variety of snack foods and icy meals including samosas, naans, parathas, as well as desserts under the InDine brand name. The provider also provides agreement production companies. Gaurav Baheti, Marketer of Ariba Foods commented, "This acquisition denotes an amazing turning point for Ariba Foods. With our sophisticated manufacturing facilities and also export knowledge, our experts are well-positioned to meet Bikaji's development needs. Our important area and modern production abilities will certainly allow us to steer notable growth in the icy food type all together." Intensive Softshare functioned as the syndicator and specialist for the bargain.
Published On Aug 23, 2024 at 02:25 PM IST.
Join the community of 2M+ sector experts.Sign up for our e-newsletter to receive most up-to-date insights & evaluation.
Download ETRetail App.Receive Realtime updates.Save your much-loved posts.
Browse to download Application.