India: Bikaji acquires 55% stake in Ariba Foods

Bikaji, an Indian snack food company, has announced the acquisition of a 55% equity stake in Ariba Foods, a diversified food company based in Ujjain, Madhya Pradesh, for 60.49 million INR ($7.2 million).

Ariba manufactures snacks, savouries and frozen foods like samosas, flatbreads and sweets under the InDine brand, with a presence in India as well as export markets including the USA, Canada, UK, Australia, New Zealand and Singapore.

As a result of the acquisition, Bikaji Foods said it would partly shift its current frozen snacks and savouries manufacturing to Ariba Foods’s Ujjain manufacturing facility.

Commenting on the acquisition, Bikaji Foods International Limited managing director Deepak Agarwal said: “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”.

Ariba Foods promoter Gaurav Baheti added: “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”.

The acquisition is set to be completed within 90 days.

Source: Economic Times / StoryBoard18