look news india
New Delhi/Bikaner, August 23 (HS). Bikaji Foods International Limited has bought 55% stake in Ujjain based Ariba Foods Private Limited. After this acquisition, Ariba has become its subsidiary. This will increase Bikaji's frozen food capabilities and export capacity.
Bikaji Foods International has acquired 55 per cent equity stake in Ariba Foods Private Limited for a total value of Rs 60.49 crore, the company said in a statement on Friday. This will help Bikaji to increase its frozen food production capabilities and expand its presence in the market. Ariba is a leading company specializing in snacks and frozen food.
Deepak Agarwal, Managing Director of Bikaji, said in a statement that this strategic move not only strengthens our potential for export growth, but also supports our entry into the quick service restaurant (QSR) segment. Agarwal said that by integrating Ariba's state-of-the-art production capabilities, we aim to increase the production of our 'frozen snacks' and namkeen. At the same time, Gaurav Baheti, promoter of Ariba Foods Private Limited, said that with our advanced production facilities and export expertise, we are well positioned to meet the production needs of Bikaji. Actually Ariba Foods is a company specializing in snacks and frozen foods including samosas, naan, parathas and sweets.
It is worth mentioning that the revenue of Bikaji Foods International Limited was Rs 2,294.71 crore in the financial year 2023-24. It is one of the leading fast-growing consumer brands in India. It was started in 1993 by Shiv Ratan Agarwal. They sell snacks and sweets, one of the largest manufacturers of Bikaneri Bhujia, Son Papdi, packaged Rasgulla and Gulab Jamun.
