.Agent ImageNew Delhi: Bikaji Foods has obtained a 55 per cent stake in Ujjain-based treats and also frozen foods provider Ariba Foods for Rs 60.49 crore, it claimed in a news release on Friday. The Assets is going to make it possible for Bikaji to enhance its frozen meals production abilities and broaden its market existence, it claimed." This tactical action certainly not only enhances our ability for export growth however also assists our entry into the QSR section. By combining Ariba's modern creation capabilities, we strive to boost our icy snack foods and savouries creating," claimed Deepak Agarwal, MD, Bikaji Foods International. Ariba Foods produces as well as sells a variety of snack foods and also icy meals such as samosas, naans, parathas, and also sweets under the InDine company. The business likewise provides contract manufacturing solutions. Gaurav Baheti, Marketer of Ariba Foods commented, "This purchase notes a thrilling turning point for Ariba Foods. With our sophisticated development resources as well as export know-how, our team are actually well-positioned to satisfy Bikaji's development requirements. Our strategic area and modern production functionalities will definitely permit us to drive considerable growth in the icy meals classification with each other." Intense Softshare acted as the syndicator and specialist for the package.
Published On Aug 23, 2024 at 02:25 PM IST.
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