.Agent ImageNew Delhi: Bikaji Foods has acquired a 55 per-cent concern in Ujjain-based snacks and frosted foods items business Ariba Foods for Rs 60.49 crore, it said in a press release on Friday. The Assets will certainly make it possible for Bikaji to enrich its own frosted food manufacturing abilities as well as broaden its market existence, it stated." This calculated relocation certainly not just boosts our capacity for export growth yet also assists our entrance into the QSR section. By combining Ariba's modern manufacturing functionalities, our company intend to boost our frozen snack foods and savouries making," said Deepak Agarwal, MD, Bikaji Foods International. Ariba Foods creates and offers a wide array of treats as well as frozen meals like samosas, naans, parathas, as well as desserts under the InDine brand name. The company likewise delivers agreement manufacturing solutions. Gaurav Baheti, Promoter of Ariba Foods commented, "This procurement marks a thrilling landmark for Ariba Foods. With our enhanced production facilities and also export proficiency, our company are well-positioned to satisfy Bikaji's manufacturing demands. Our strategic site and modern manufacturing capacities are going to allow our team to steer notable development in the icy food category all together." Intense Softshare acted as the syndicator and also consultant for the bargain.
Posted On Aug 23, 2024 at 02:25 PM IST.
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