Bikaji Foods International is considering acquiring a stake in Ariba Foods, a fellow Indian company engaged in the manufacturing and selling of frozen food products. The announcement was made in a filing with the National Stock Exchange of India (NSE) on August 13. A board meeting is scheduled for August 23 to review and approve the potential acquisition.
The size of the stake or the purchase price has not been disclosed in the filing. Ariba Foods, based in Indore, Madhya Pradesh, offers a range of frozen products including mixed vegetables, burgers, parathas, samosas, and rotis.
Like Bikaji Foods, Ariba Foods specializes in Indian snacks and sweets, serving both retail and foodservice channels. Bikaji Foods, based in Jaipur, Rajasthan, focuses on local snack varieties such as bhujia, namkeen, potato chips, and papads. Established in 1987, the company supplies to 23 states and four union territories in India.
In a similar move last year, Bikaji Foods acquired a 49% stake in Bhujialalji, another Indian snacks maker. Bhujialalji, founded in 2021, offers products like bhujia and caters to e-commerce and quick commerce platforms in India.
In 2019, Bikaji Foods attracted interest from new investors, with a fund under Indian financial services group Avendus Asset Management acquiring a minority stake from private-equity firm Lighthouse and Intensive Softshare.
The potential acquisition of Ariba Foods aligns with Bikaji Foods’ strategy to expand its product portfolio and market presence in the food and beverage industry. This strategic move reflects the company’s commitment to growth and diversification within the competitive food and drink business landscape.
Overall, Bikaji Foods continues to strengthen its position as one of India’s leading snack manufacturers, leveraging strategic partnerships and acquisitions to drive innovation and meet evolving consumer trends in the food and drink sector.
