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by | Mar 12, 2018 | Podophyllum

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Fauji Foods Limited, (Urdu: فوجی فوڈز) formerly known as Noon Pakistan Limited, is a Pakistani food company which is a subsidiary of Pakistani conglomerate company Fauji Foundation.[3] It is based in Lahore, Pakistan.

Fauji Foods is known for its dairy products and brands such as Nurpur, and Dostea.[4] It is listed on the Pakistan Stock Exchange.[5]

History

Fauji Foods was established in 1966 as part of Noon Group by Pakistani political family Noon family.[6][7] It was listed on the Karachi Stock Exchange in 1970.[8] The shares of the company were held by Pakistani politician Malik Adnan Hayat Noon and Salman Hayat Noon with 48.9 percent and 25.5 percent respectively until 2015.[5]

In 2015, Fauji Foundation acquired Noon Pakistan.[9] Before acquisition, company was in loss for two consecutive years.[10] Fauji Fertilizer Bin Qasim will give a loan of Rs. 3.5 billion to Fauji Foods.[11]

In 2018, Chinese company, Yili Group, expressed its intent to buy 51 percent stake in Fauji Foods.[12] Later, in 2019, it has withdrawn its interest.[13]

In February 2024, Fauji Foods acquired Fauji Infraavest Foods Limited and Fauji Cereals from Fauji Foundation.[14]

References

  1. ^ Iqbal, Ahsan. "Our Leadership".
  2. ^ "Fauji Foods Annual Report 2023" (PDF). Retrieved 18 May 2024.
  3. ^ Mangi, Faseeh; Marlow, Iain; Kay, Chris (August 14, 2017). "Army-Owned Firm Seeks to Double Share in Pakistan Dairy Market". Bloomberg.
  4. ^ Hussain, Dilawar (May 4, 2015). "FFBL diversifies from food to power". DAWN.COM.
  5. ^ a b Hussain, Dilawar (November 23, 2014). "Fauji Fertiliser to enter food processing industry". DAWN.COM.
  6. ^ "Fauji Foods losses continue, despite revenue growth". Profit by Pakistan Today. February 6, 2021.
  7. ^ "Noon Pakistan Limited (NOPK)". November 24, 2015.
  8. ^ "History of Fauji Foods Limited".
  9. ^ "FFBL board approves acquisition of Noon Pakistan". www.thenews.com.pk. February 16, 2015.
  10. ^ "FFBL, Fauji Foundation to acquire Noon Pakistan". The Express Tribune. March 28, 2015.
  11. ^ Ali, Meiryum (2020-12-05). "Fauji Fertilizer Bin Qasim to bail out Fauji Foods with Rs3.5 billion loan – yet again". Profit by Pakistan Today. Retrieved 2020-12-11.
  12. ^ "China's Yili Group expresses intent to acquire Fauji Foods". The Express Tribune. August 1, 2018.
  13. ^ "Chinese industrial group withdraws intention to acquire Fauji Foods". The Express Tribune. April 30, 2019.
  14. ^ "Fauji Foods acquires subsidiaries". The News International.
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