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Bikaji Foods Acquires 55% Stake in Ariba Foods
Bikaji Foods International has successfully acquired a 55% stake in Ariba Foods for ₹60.49 crore ($7.2 million), marking a significant expansion into the frozen food sector. This strategic acquisition aims to enhance Bikaji's production capabilities and broaden its market presence, particularly in the quick service restaurant (QSR) segment. Ariba Foods, based in Ujjain, Madhya Pradesh, specializes in a variety of frozen snacks and sweets, with about 50% of its turnover coming from exports to markets like the USA and UK. The deal is expected to facilitate a partial shift of production to Ariba's facilities, thereby improving operational efficiency and supply chain control. Bikaji Foods anticipates completing the acquisition within 90 days, which will see Ariba Foods become a subsidiary. This move aligns with Bikaji's goal of tapping into the growing demand for frozen food products both domestically and internationally.
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- 88 days ago
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