Bikaji Foods completes acquisition of 55% stake in Ariba Foods

Bikaji Foods International Limited has announced the completion of its acquisition of a 55% stake in Ariba Foods Private Limited. The transaction, valued at ₹60.49 crore, was finalized on September 4, 2024, making Ariba Foods a subsidiary of Bikaji.

Key points of the acquisition:

• Bikaji acquired 2,60,41,243 equity shares of Ariba Foods at ₹23.23 per share.
• Ariba Foods is an FMCG company specializing in snacks and frozen foods, with a manufacturing facility in Ujjain, Madhya Pradesh.
• The acquisition is part of Bikaji’s strategy to expand its frozen snacks and sweets business in India and globally.
• Ariba Foods reported a turnover of ₹38.43 crore for the financial year 2022-23.
• The deal is expected to strengthen Bikaji’s Quick Service Restaurant (QSR) business and enhance its backward integration.
• Ariba Foods has a presence in international markets, with exports contributing to approximately 50% of its turnover.

This strategic move is aimed at bolstering Bikaji’s product portfolio and manufacturing capabilities in the frozen food segment. The company plans to partially shift its current frozen snacks production to Ariba Foods’ facility in Ujjain.