Bikaji Foods Acquires Ariba Foods for Frozen Food Expansion
By Rediff Money Desk, New Delhi Aug 23, 2024 16:17
Bikaji Foods International has acquired a majority stake in Ariba Foods, a Ujjain-based frozen food specialist, to enhance its frozen food production and market reach.
![Bikaji Foods Acquires Ariba Foods for Frozen Food Expansion](https://im.rediff.com/getahead/2015/feb/23food.jpg)
New Delhi, Aug 23 (PTI) Snacks manufacturer Bikaji Foods International on Friday said it has acquired majority stake in Ujjain-based Ariba Foods, which specialises in snacks and frozen foods.
Bikaji Foods International has acquired a 55 per cent equity stake in the company totalling Rs 60.49 crore, which will help Bikaji to enhance its frozen food production capabilities and expand its market presence, according to a joint statement.
"This strategic move not only strengthens our capacity for export growth but also supports our entry into the Quick Service Restaurant (QSR) segment. By integrating Ariba's state-of-the-art production capabilities, we aim to enhance our frozen snacks and savouries manufacturing," Managing Director Deepak Agarwal said.
In the last few years, consumption of frozen foods has increased and the sector has witnessed rapid growth driven by technological advancements.
"With our advanced production facilities and export expertise, we are well-positioned to meet Bikaji's production needs," Gaurav Baheti, Promoter of Ariba Foods, said.
For the 2023-24, Bikaji Foods International's revenue was at Rs 2,294.71 crore.
Bikaji Foods International has acquired a 55 per cent equity stake in the company totalling Rs 60.49 crore, which will help Bikaji to enhance its frozen food production capabilities and expand its market presence, according to a joint statement.
"This strategic move not only strengthens our capacity for export growth but also supports our entry into the Quick Service Restaurant (QSR) segment. By integrating Ariba's state-of-the-art production capabilities, we aim to enhance our frozen snacks and savouries manufacturing," Managing Director Deepak Agarwal said.
In the last few years, consumption of frozen foods has increased and the sector has witnessed rapid growth driven by technological advancements.
"With our advanced production facilities and export expertise, we are well-positioned to meet Bikaji's production needs," Gaurav Baheti, Promoter of Ariba Foods, said.
For the 2023-24, Bikaji Foods International's revenue was at Rs 2,294.71 crore.
Source: PTI
Read More On:
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
You May Like To Read
TODAY'S MOST TRADED COMPANIES
- Company Name
- Price
- Volume
- FSN E-Commerce Ventu
- 226.90 (+ 7.84)
- 44986839
- Rajnish Wellness
- 4.35 (+ 9.85)
- 42383762
- Reliance Power L
- 34.45 ( -4.99)
- 37949700
- GTL Infrastructure
- 2.81 ( -2.09)
- 34669129
- ARC Finance
- 1.33 (+ 4.72)
- 30775342
MORE NEWS
![Anil Ambani: Sebi...](https://im.rediff.com/80-80/money/2018/jan/03anil-ambani.jpg)
Anil Ambani: Sebi Orders RHFL Management Defied...
Sebi finds Anil Ambani behind fund diversion at RHFL, alleging management defied board...
![India's...](https://im.rediff.com/80-80/money/2020/jul/15trade7.jpg)
India's Engineering Exports Grow 3.6% in July...
Despite global challenges, India's engineering goods exports rose 3.6% year-on-year in...
![India Steel...](https://im.rediff.com/80-80/money/2023/jul/18steel.jpg)
India Steel Market Hit by Unfair Imports &...
Former Indian steel secretary warns of unfair imports and dumping impacting the...