Acquisition will enhance Bikaji’s frozen food production capabilities and expand its market presence
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 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
In the late 80s, Shivratan Agarwal decided to walk his path and create a new identity for himself, this lead to the birth of the brand Bikaji. At the time when the technology to produce Bhujia on a large scale was unthought of, Agarwal successfully laid the foundation of his dream venture. Not only, he ventured across the world to find and co-invent the right technology for producing bhujia; but he also managed to find an easy to remember name for the brand, that would easily connect with the consumers. The name Bikaji is derived from Bika Rao- the founder of Bikaner and Ji, used as a mark of respect in India.
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