Fauji Foods Limited (FFL) has completed the acquisition of the entire equity stake of Fauji Foundation in Fauji Infraveast Foods Limited and its cereals business, which operates under the brand name ‘Fauji Cereals’.
According to a filing on the Pakistan Stock Exchange (PSX), this strategic decision follows approvals from FFL’s Board of Directors on November 21, 2023, and the consent of Shareholders on December 28, 2023.
“This move marks the successful creation of a consumer food vertical within the group and is in line with FFL’s ambition of becoming an FMCG powerhouse in Pakistan,” the company said in its notice to the PSX.
The merger brings together Pakistan’s most iconic brands and is expected to make Fauji Foods Limited one of the most diverse food companies in Pakistan. This is in line with Fauji Foods Limited’s strategy to own the breakfast table through its much-loved dairy brand “Nurpur” and Pakistan’s largest cereal brand “Fauji Cereals”.
Through the acquisition of Fauji Infraveast Foods Limited, a state-of-the-art Pasta plant is also being added to FFL’s business. This extends the company’s portfolio to multiple culinary occasions.
Earlier, on Tuesday, the Competition Commission of Pakistan (CCP) approved the acquisition of the Fauji Foundation’s cereal business by Fauji Foods Limited.
The approval follows a detailed review under the Competition Act of 2010, ensuring no market competition concerns arise from this merger.
