Bikaji Foods International has acquired a 55% equity stake in Ariba Foods, an Ujjain-based company specialising in snacks and frozen foods like samosas, naans, parathas, and sweets for Rs 60.49 crores.
This strategic investment of Bikaji Foods is believed to enhance its frozen food production capabilities and expand its market presence.
This acquisition comes at a pivotal moment as the frozen food sector experiences rapid growth driven by technological advancements. As per the brand, with a positive growth perspective, the industry is set to leverage these innovations to meet increasing consumer demand and expand its market presence.
Commenting on the acquisition, Deepak Agarwal, Managing Director, Bikaji Foods International, said, “We are thrilled to announce our acquisition of a 55% stake in Ariba Foods. 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.”
Noting the development, Gaurav Baheti, Promoter of Ariba Foods, remarked, “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.”
