.Rep ImageNew Delhi: Bikaji Foods has acquired a 55 per cent concern in Ujjain-based treats and also icy foods items provider Ariba Foods for Rs 60.49 crore, it claimed in a news release on Friday. The Investment is going to allow Bikaji to enrich its own frosted meals development functionalities and extend its own market existence, it claimed." This important relocation certainly not simply strengthens our capability for export development however likewise assists our entry in to the QSR portion. Through incorporating Ariba's advanced production capacities, our experts target to improve our icy snacks and also savouries creating," said Deepak Agarwal, MD, Bikaji Foods International. Ariba Foods produces and also sells a selection of snacks and frozen foods such as samosas, naans, parathas, and sugary foods under the InDine company. The business additionally supplies agreement manufacturing services. Gaurav Baheti, Marketer of Ariba Foods commented, "This purchase notes an amazing milestone for Ariba Foods. With our innovative production resources and export skills, we are actually well-positioned to comply with Bikaji's manufacturing demands. Our critical site and modern manufacturing functionalities will allow us to steer notable development in the frosted meals category with each other." Intensive Softshare worked as the syndicator and also advisor for the offer.
Posted On Aug 23, 2024 at 02:25 PM IST.
Sign up with the area of 2M+ business professionals.Register for our bulletin to receive most up-to-date knowledge & evaluation.
Download And Install ETRetail App.Receive Realtime updates.Conserve your favourite write-ups.
Scan to download and install App.