KARACHI: Matco Foods Limited (PSX: MATCO) has announced the incorporation of a new subsidiary, Matco Corn Products (Private) Limited, which will be 99.99% owned by the parent company, according to a stock filing on Thursday.
In a parallel move, the company has renamed its existing wholly-owned subsidiary Matco Marketing (Private) Limited to Falak Foods (Private) Limited, aligning it more closely with its consumer-facing brand.
The development is part of Matco’s broader strategic restructuring plan aimed at carving out its Corn Starch and Falak Foods operations into separate subsidiaries. The company believes the reorganisation will allow for greater operational focus, better alignment with market segments, and the ability to unlock new investment opportunities.
Falak is a well-known household brand in Pakistan and overseas markets, offering a wide range of food products including rice, salt, spices, and canned goods. By transforming the marketing subsidiary into a dedicated unit under the Falak name, Matco aims to strengthen brand equity and streamline its consumer-facing operations.
“This step will enhance our ability to create long-term shareholder value by facilitating strategic partnerships and opening access to diverse funding channels,” the company stated.
Matco Foods is a leading processor and exporter of rice and value-added food products in Pakistan, with an expanding footprint in food innovation and agribusiness.
