Islamabad December 28 2023: Fauji Foods Limited (FFL), Pakistan’s leading dairy company, is pleased to announce that it has received the requisite approval from its shareholders through EOGM held on Dec 28,2023, to proceed with acquisition of Fauji Cereals & Fauji Infraavest Limited.
This move is expected to convert Fauji Foods into a consumer food powerhouse with FFL becoming one of the most diverse food companies in Pakistan. Its portfolio will enable it to not only own the breakfast occasion through cheese, butter, UHT Milk & Cereals but will now entrench its taste credentials across multiple culinary occasions through pasta, and other wide-ranging products. This is a coming together of iconic and loved brands with deep Pakistani identity. The compelling synergies make this move a natural integration across the entire value chain of these three businesses.
It is expected that the above acquisitions shall be EPS accretive. These acquisitions come on the back of a strong Fauji Foods performance in 2023. The company completed the turnaround with a revenue growth of 83% in the first 9 months of 2023 duly complimented by achieving its highest PAT in Q3.
About Fauji Cereal:
Fauji Cereals is the leading cereals brand in Pakistan and is loved by its diverse customer base. Its product portfolio includes a wide range of Cereals, Porridge and Desserts.
About Fauji Infraavest Limited:
FIFL has state of the art manufacturing facility for pasta & related products.
