Bikaji Foods International Extends Investment Timeline for US Subsidiary to Strengthen Distribution Network
Bikaji Foods International has extended its investment timeline for its US subsidiary, Bikaji Foods International USA Corp, aiming to further strengthen its distribution network in the United States. The company will now invest up to $500,000 in its US arm over the next three months, a move that aligns with its broader expansion strategy in the fast-moving consumer goods (FMCG) sector.
The decision to extend the investment timeline was approved by the company’s Board of Directors on July 24, 2024. The investment involves subscribing to 50,000 common stocks at $10 each, underscoring the company’s commitment to boosting its presence in the US market. Bikaji Foods USA, established in New Jersey in July 2023, has already made significant strides, reporting a turnover of over $1 million in the previous fiscal year ending March 31, 2024. However, the subsidiary recorded a net loss of $70,130.51 during the same period.
The focus of Bikaji USA remains on trading food items, with a particular emphasis on expanding its distribution network to cater to the growing demand for Indian snacks and food products in the US. The subsidiary is fully owned by Bikaji Foods International, with promoters Deepak Agarwal and Shweta Agarwal also serving as directors of the US entity.
This extended investment timeline is expected to accelerate Bikaji’s plans to tap into the US market, as the company looks to strengthen its foothold in the international FMCG space. With a clear focus on strategic expansion, Bikaji Foods International is poised to further grow its global presence and continue its success story in the food industry.
About Prestair system
Prestair System is a leader in providing high-quality food service equipment and premium display solutions tailored for the hospitality industry. The company supports restaurants, hotels, and food chains by delivering top-tier commercial kitchen equipment, ensuring seamless operations and maintaining high standards in food preparation and service.
Prestair System has successfully executed key projects over the years, including notable collaborations with renowned food chains like Bikanervala. Their achievements include launching 30 outlets during the Navratri festival and completing projects along the busy Mumbai-Delhi Highway.
With a strong emphasis on quality and innovation, Prestair System has earned its reputation as a trusted partner for premium kitchen and display solutions. Their display systems help food service businesses present their offerings in an appealing way, elevating the overall dining experience for customers.
Keywords: Bikaji Foods USA, Bikaji Foods International, investment in US subsidiary, Bikaji USA expansion, FMCG sector expansion, Bikaji Foods International investment, food distribution network USA, Bikaji Foods turnover, Indian snacks in USA, Bikaji USA investment timeline.
Read more updates Related to Restaurant: Click Here