Indian snacks manufacturer Bikaji Foods International announced on Friday that it has acquired a 55% stake in Ujjain-based snacks and frozen foods company, Ariba Foods Private Limited for Rs 60.49 crore.
Deepak Agarwal, managing director of Bikaji Foods International Limited said, “This strategic move not only strengthens our capacity for export growth but also supports our entry into the QSR segment.” He added that by integrating Ariba’s production capabilities, Bikaji aims to enhance its frozen food production capabilities and expand its market presence.
The frozen food sector is witnessing rapid growth driven by technological advancements, the maker of Bikaner Bhujia said in a press note.
“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,” Gaurav Baheti, promoter of Ariba Foods said.
Ariba’s range of products includes snacks, savouries, and frozen foods such as samosas, naans, parathas, and sweets under the “InDine” brand.
Mumbai-based investor Intensive Softshare Private Limited is the sole advisor to the deal.
Bikaji reported a 40.13% growth in net profit to Rs 60.55 crore in the first quarter ended June in FY25 compared to Rs 43.21 crore in the corresponding quarter previous year. The revenue increased 17.56% to Rs 561.4 crore from Rs 477.54 crore in the period under review.
