Bikaji Foods Takes Major Stake in Ariba Foods to Boost Frozen Food Segment

Bikaji Foods International has acquired a 55% controlling stake in Ujjain-based Ariba Foods for Rs 60.49 crore. The acquisition aims to boost Bikaji's frozen food production capabilities and expand its market presence, including entering the Quick Service Restaurant (QSR) segment. The sector has seen rapid growth due to increased consumption and technological advancements.

Snacks manufacturer Bikaji Foods International announced on Friday that it has secured a majority stake in Ariba Foods, a Ujjain-based company specializing in snacks and frozen foods.

According to a joint statement, Bikaji acquired a 55 percent equity stake in Ariba Foods for Rs 60.49 crore. This acquisition is expected to enhance Bikaji's frozen food production capabilities and broaden its market presence.

"This strategic move not only strengthens our capacity for export growth but also supports our entry into the Quick Service Restaurant (QSR) segment. By integrating Ariba's state-of-the-art production capabilities, we aim to enhance our frozen snacks and savouries manufacturing," said Managing Director Deepak Agarwal.

In recent years, the consumption of frozen foods has grown, driven by technological advancements. "With our advanced production facilities and export expertise, we are well-positioned to meet Bikaji's production needs," said Gaurav Baheti, Promoter of Ariba Foods. Bikaji Foods International reported a revenue of Rs 2,294.71 crore for the 2023-24 fiscal year.

(With inputs from agencies.)