Bikaji Foods Expands Acquisition of 49% Stake in Bhujialalji
Bikaji Foods International Ltd has recently made a significant move by acquiring a 49% stake in Bhujialalji Pvt Ltd, as reported in a filing with the Bombay Stock Exchange (BSE).
The deal involved 9,608 equity shares and 396 compulsorily convertible debentures (CCDs) at a value of Rs 5,100 per security, amounting to a total of Rs 5.10 crore. Each equity share carries a face value of Rs 10.
Bhujialalji Pvt Ltd (BPL) is a new entrant in the industry but has already gained popularity with its diverse portfolio of bhujia and namkeen variants.
Deepak Agarwal, the Managing Director of Bikaji Foods International Limited, expressed his enthusiasm about the acquisition, stating, “This is a small yet vital step towards our ambitious growth plans. We believe that there will be no conflict in brand positioning; in fact, many successful companies worldwide operate under similar arrangements. Our strategic vision for this collaboration is to leverage synergies that will enhance Bikaji’s market position while allowing BPL to continue functioning independently.”
Jai Agarwal, the Promoter of Bhujialalji Pvt Ltd, also shared his excitement, saying, “We are incredibly grateful for the support from a market leader like Bikaji, especially at this early stage of our journey. This collaboration opens up new avenues for learning and growth while preserving the essence of our brand. We are keen to expand our market reach geographically, tapping into various channels such as e-commerce and modern trade.”
The acquisition comes at a time when India’s organized snack industry is flourishing, currently valued at Rs 4.24 trillion. This growth is attributed to shifting lifestyles, increasing incomes, and urbanization.
According to a Frost & Sullivan report, the packaged food retail revenue in India was worth Rs 2.43 trillion in 2015 and has since registered a compound annual growth rate (CAGR) of approximately 8.3% from FY15-2022. Projections indicate an expected CAGR of 8% in the next five years, reaching Rs 5.79 trillion by the end of 2026.
Furthermore, the Indian savory snacks market was valued at Rs 75,100 crore in 2022, and experts predict it to grow at a CAGR of 13% to reach Rs 1.22 trillion by 2026.
About Bikaji Foods:
Bikaji Foods International Limited manufactures packaged food items, including bhujia, namkeen, papad, snacks, and sweets. The company caters to customers all around the globe.
For more of the Latest News, Click Here
