.Representative ImageNew Delhi: Bikaji Foods has actually acquired a 55 per cent risk in Ujjain-based snack foods and also frosted meals firm Ariba Foods for Rs 60.49 crore, it claimed in a news release on Friday. The Financial investment is going to permit Bikaji to enrich its icy food production capacities and expand its own market visibility, it said." This important step not only strengthens our ability for export development yet also sustains our entrance right into the QSR portion. By incorporating Ariba's advanced production functionalities, our team strive to enrich our frozen treats and savouries producing," claimed Deepak Agarwal, MD, Bikaji Foods International. Ariba Foods manufactures and also offers an assortment of snacks and frosted foods items like samosas, naans, parathas, and also sugary foods under the InDine brand. The company also supplies contract manufacturing services. Gaurav Baheti, Promoter of Ariba Foods commented, "This purchase marks an amazing landmark for Ariba Foods. Along with our state-of-the-art development resources and export expertise, our team are actually well-positioned to fulfill Bikaji's creation demands. Our key site and state-of-the-art production functionalities will allow our team to drive substantial development in the frosted food items type with each other." Demanding Softshare worked as the syndicator and also expert for the deal.
Released On Aug 23, 2024 at 02:25 PM IST.
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