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Bikaji Foods International Limited announced its acquisition of a 55 per cent stake in Ariba Foods Private Limited for ₹60.49 crore. The Board of Directors approved this investment, which will result in Ariba Foods becoming a subsidiary of Bikaji.
The shares of Bikaji Foods International Limited were trading at ₹853.80, down by ₹1.65 or 0.19 per cent on the NSE today at 2:35 pm
The acquisition involves Bikaji purchasing 2,60,41,243 equity shares of Ariba Foods at ₹23.23 per share, including a premium of ₹13.23. This transaction is expected to be completed within 90 days.
Ariba Foods, an FMCG company incorporated in 2012, specializes in manufacturing and selling snacks under the ‘InDine’ brand. It reported a turnover of ₹38.43 crore for the financial year 2022-23. The company operates a manufacturing facility in Ujjain, Madhya Pradesh, with a capacity of 7,000 mt per annum.
Bikaji aims to expand its frozen snacks and sweets business through this acquisition. The company plans to shift part of its current frozen snacks production to Ariba Foods’ facility and strengthen its Quick Service Restaurant (QSR) business.
This move is part of Bikaji’s strategy to enhance backward integration and secure control over its frozen food supply chain.
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