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Bikaji Foods International acquires 55% stake in Ariba Foods
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Tuesday, 27 August, 2024, 13 : 00 PM [IST]
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Our Bureau, New Delhi
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Bikaji Foods International Ltd., has announced the acquisition of a 55% equity stake in Ariba Foods Private Limited, a leading Ujjain-based company specialising in snacks and frozen foods, including samosas, naans, parathas, and sweets. This strategic investment, totalling Rs 60.49 crore, will enable Bikaji to enhance its frozen food production capabilities and expand its market presence.
Deepak Agarwal, managing director, Bikaji Foods International Limited, said, “We are thrilled to announce our acquisition of a 55% stake in Ariba Foods Private Limited. This strategic move not only strengthens our capacity for export growth but also supports our entry into the QSR segment. By integrating Ariba’s state-of-the-art production capabilities, we aim to enhance our frozen snacks and savouries manufacturing.”
Gaurav Baheti, promoter, Ariba Foods Private Limited, said, “This acquisition marks an exciting milestone for Ariba Foods. With our advanced production facilities and export expertise, we are well-positioned to meet Bikaji’s production needs. Our strategic location and state-of-the-art manufacturing capabilities will enable us to drive significant growth in the frozen food category together.”
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