CCL Holdings has big plans to turn Mitchell’s around

Mitchell’s is a name that has become a staple in the country. It feels like the brand has existed in Pakistan for a long time and the worth of the brand can be gauged by the fact that the name has stayed the same even when the owners have changed hands multiple times. A few months ago, the ownership again changed hands when CCL Holdings (Pvt) Limited bought a majority of shares of the company and became the majority owner. Recently, Mitchell’s has announced that it will be carrying out a right share issue allowing existing shareholders to invest further into the company.

This feels like a new route being taken where CCL Holdings is putting their money where their mouth is. The aim of the right issue is to help the company gather its resources and allow it to channel them in the right manner in order to take the company forward. Coupled with sale of non-core assets being carried out, it can be seen that the company is being made leaner and there is an active effort to bring about a material change to the company. Just where does Mitchell’s stand right now and what are its aims going forward?