Bikaji Foods shares at 52-week high on acquiring majority stake in frozen food player Ariba

Packaged foods player Bikaji Foods International's shares jumped nearly five percent to a fresh 52-week high on August 26, after the company announced acquisition of a 55 percent stake in Madhya Pradesh-based snacks and frozen foods firm Ariba Foods.

"This strategic investment, totalling Rs 60.49 crore, will enable Bikaji to enhance
its frozen food production capabilities and expand its market presence," the company said in an exchange filing.

Deepak Agarwal, Managing Director of Bikaji Foods International said, “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.”