Bikaji Foods International Ltd. has announced the acquisition of a 55% equity stake in Ariba Foods Private Ltd., a leading Ujjain-based company specializing in snacks and frozen foods like samosas, naans, parathas, and sweets, according to a release by the company.
This strategic investment, totalling Rs. 60.49 crore, will enable Bikaji to enhance its frozen food production capabilities and expand its market presence.
“We are thrilled to announce our acquisition of a 55% stake in Ariba Foods Private Limited,” said Deepak Agarwal, Managing Director, 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 pivotal 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.
“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,” said Gaurav Baheti, Promoter, Ariba Foods Private Limited.
Intensive Softshare Private Limited, a Mumbai-based investor with a strong focus on the Indian consumer industry is the sole syndicator and advisor to the deal.
Bikaji Foods International is an ethnic snacks company and a leading producer of Bikaneri Bhujia, with an annual production of 41,369 tonnes in the financial year (FY24). The brand enjoys extensive market reach across 25 states and 4 union territories as of March 31, 2024, offering a diverse range of products including bhujia, namkeens, packaged sweets, papad, western snacks, and frozen foods.
