National Foods Ltd has signed binding agreements to sell a majority stake in its Canadian wholesale and distribution arm, moving to crystallise a sizeable gain on an investment it made eight years ago. In a notice to the Pakistan Stock Exchange, the company said its wholly owned Dubai subsidiary has executed a share purchase agreement and related documents for the divestment of 50.5% out of its 60% shareholding in A-1 Bags & Supplies Inc. (A1), a Mississauga-based distributor serving restaurants and institutional buyers across Ontario. The agreements were signed on 10 October 2025 with buyers Chemical Chase Morgan Partners and Arfa Holdings, Inc., the filing said.
The move follows board and shareholder approvals earlier in the season to restructure the overseas business and pursue a partial exit. National Foods’ disclosure emphasised that the divestment is being executed through its international holding chain – National Foods DMCC (Dubai) and National Epicure Inc. (Canada) – consistent with how the group originally acquired A1 in 2017. The content in this publication is expensive to produce. But unlike other journalistic outfits, business publications have to cover the very organizations that directly give them advertisements. Hence, this large source of revenue, which is the lifeblood of other media houses, is severely compromised on account of Profit’s no-compromise policy when it comes to our reporting. No wonder, Profit has lost multiple ad deals, worth tens of millions of rupees, due to stories that held big businesses to account. Hence, for our work to continue unfettered, it must be supported by discerning readers who know the value of quality business journalism, not just for the economy but for the society as a whole.To read the full article, subscribe and support independent business journalism in Pakistan
