Acquires 55% Stake in Ariba Foods to enhance Frozen Food Capabilities
BIKANER, Aug 23 (The CONNECT) — Bikaji Foods International Ltd. has announced the acquisition of a 55% equity stake in Ariba Foods Private Limited, a leading Ujjain-based company specializing in snacks and frozen foods, including samosas, naans, parathas, and sweets.
This strategic investment, totaling ₹60.49 crores, will enable Bikaji to enhance its frozen food production capabilities and expand its market presence.
Deepak Agarwal, Managing Director of Bikaji Foods International 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.”
The acquisition comes at a moment as the frozen food sector experiences rapid growth driven by technological advancements. With a positive growth perspective, the industry is set to leverage these innovations to meet increasing consumer demand and expand its market presence.
Gaurav Baheti, Promoter of Ariba Foods Private Limited, remarked that the company’s strategic location and state-of-the-art manufacturing capabilities will enable the two companies to drive significant growth in the frozen food category together.
Intensive Softshare Private Limited, a Mumbai based investor with strong focus in the Indian consumer industry is the sole syndicator and advisor to the deal.
