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Bikaji Foods' management snubs prospects of possible sale

VCCircle · 7m

Bikaji Foods, an Indian snacks maker, has stated that it is not for sale and is instead looking to expand its own business. The company aims to capitalize on the increasing demand for savoury brands in India, a top executive has revealed. Bikaji's decision comes after talks of acquisitions between Tata Group and Haldiram's, its primary competitor. Bikaji plans to focus on acquisitions that can help expand distribution and boost its presence in the frozen-food market. The company has a budget of INR 1-1.5 billion ($12-18 million) for potential targets.