M&A

M&A

Bikaji Foods acquires 55% stake in snacks maker Ariba for Rs.60.5 Cr

BSE  

Bikaner-headquartered, publicly-listed Bikaji Foods International has acquired a 55% stake in Ujjain-based snacks and frozen foods company, Ariba Foods Pvt Ltd , for about INR 60.50 crore (2,60,41,243 equity shares having face value of INR 10 each issued at premium of INR 13.23 per share). Intensive Softshare Pvt Ltd is the sole advisor to the deal.Founded in 2012, Ariba Foods sells snacks under the brand name of ‘InDine’, and also undertakes contract manufacturing for third parties. For FY23, Ariba Foods had recorded turnover of INR 38.43 crore.