.Representative ImageNew Delhi: Bikaji Foods has gotten a 55 per cent stake in Ujjain-based snacks as well as frosted foods items company Ariba Foods for Rs 60.49 crore, it pointed out in a press release on Friday. The Financial investment will certainly permit Bikaji to improve its own icy food items development functionalities as well as increase its own market visibility, it stated." This calculated action not just reinforces our ability for export growth but also assists our access in to the QSR segment. Through combining Ariba's modern manufacturing capacities, our company strive to improve our frosted snack foods and also savouries manufacturing," stated Deepak Agarwal, MD, Bikaji Foods International. Ariba Foods makes as well as markets a range of snacks and frosted meals like samosas, naans, parathas, as well as sugary foods under the InDine brand. The company additionally delivers arrangement manufacturing companies. Gaurav Baheti, Promoter of Ariba Foods commented, "This purchase denotes a stimulating breakthrough for Ariba Foods. Along with our enhanced creation centers and export competence, we are well-positioned to comply with Bikaji's production needs. Our important place and advanced manufacturing abilities will definitely allow us to steer significant development in the frozen meals classification together." Demanding Softshare worked as the syndicator as well as advisor for the deal.
Posted On Aug 23, 2024 at 02:25 PM IST.
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