.Agent ImageNew Delhi: Bikaji Foods has acquired a 55 percent stake in Ujjain-based treats and frosted foods items business Ariba Foods for Rs 60.49 crore, it pointed out in a news release on Friday. The Assets will certainly permit Bikaji to boost its own icy meals manufacturing functionalities and broaden its market existence, it said." This important action certainly not merely boosts our capacity for export development yet also assists our entry in to the QSR section. Through incorporating Ariba's cutting edge creation capabilities, our team strive to enrich our frozen treats and also savouries manufacturing," claimed Deepak Agarwal, MD, Bikaji Foods International. Ariba Foods creates as well as markets a wide array of treats and also frosted foods items such as samosas, naans, parathas, and sweets under the InDine company. The business likewise gives deal production companies. Gaurav Baheti, Promoter of Ariba Foods commented, "This procurement denotes a stimulating breakthrough for Ariba Foods. With our sophisticated development locations and also export experience, our experts are actually well-positioned to satisfy Bikaji's manufacturing needs. Our important site as well as modern production capabilities are going to enable us to steer significant growth in the icy meals group together." Intense Softshare functioned as the syndicator as well as specialist for the offer.
Published On Aug 23, 2024 at 02:25 PM IST.
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