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Bikaji Foods acquires 55% stake in Ariba Foods for Rs 60.5 cr, ET Retail

.Agent ImageNew Delhi: Bikaji Foods has actually acquired a 55 percent stake in Ujjain-based treats and icy foods provider Ariba Foods for Rs 60.49 crore, it said in a news release on Friday. The Financial investment is going to make it possible for Bikaji to enhance its own frosted food items production abilities and increase its own market existence, it claimed." This critical technique not simply boosts our capacity for export development yet also assists our entrance in to the QSR sector. Through including Ariba's advanced manufacturing capacities, we aim to enrich our icy treats and also savouries producing," mentioned Deepak Agarwal, MD, Bikaji Foods International. Ariba Foods manufactures and also markets a range of snacks and also icy meals including samosas, naans, parathas, and desserts under the InDine brand. The firm additionally gives contract manufacturing solutions. Gaurav Baheti, Promoter of Ariba Foods commented, "This purchase denotes a fantastic milestone for Ariba Foods. With our sophisticated creation locations and export competence, our company are well-positioned to meet Bikaji's production necessities. Our critical site and also modern manufacturing abilities will certainly permit our team to drive substantial development in the icy food category with each other." Intense Softshare served as the syndicator as well as expert for the bargain.
Published On Aug 23, 2024 at 02:25 PM IST.




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