Bikaji Foods International Acquires 55% Stake in Ariba Foods Private Limited, Making It a Subsidiary Company

 

Acquisition Enhances Bikaji’s Frozen Food Capabilities and Export Capacity

Bikaner, August 23, 2024 — Bikaji Foods International Ltd. has announced the acquisition of a 55%  equity stake in Ariba Foods Private Limited, a leading Ujjain-based company specializing in snacks and frozen foods, including samosas, naans, parathas, and sweets. This strategic investment, totaling ₹60.49 crores, 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 Mr. Deepak Agarwal, Managing Director of 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.”

Gaurav Baheti, Promoter of Ariba Foods Private Limited, remarked, “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 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.

Intensive Softshare Private Limited, a Mumbai based investor with strong focus in the Indian consumer industry is the sole syndicator and advisor to the deal.

About Bikaji Foods International

Bikaji Foods International is India’s third-largest ethnic snacks company and the leading producer of Bikaneri Bhujia, with an annual production of 41,369 tonnes in FY24. Since 1993, Bikaji has been revolutionizing Indian snacks with innovative products. 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.

About Ariba Foods Private Limited

Ariba Foods Private Limited, based in Ujjain, MP, manufactures and sells a variety of snacks under the “InDine” brand. The company also provides contract manufacturing services. With operations spanning manufacturing, marketing, distribution, and sales, Ariba offers a wide range of products including snacks, savouries, and frozen foods such as samosas, naans, parathas, and sweets. In 2017, Ariba was honored with the ‘Start-Up of the Year’ award by the Hon. Chief Minister of Madhya Pradesh.