Summary
Fauji Foods Limited, (فوجی فوڈز لمیٹڈ) formerly known as Noon Pakistan Limited, is a Pakistani food company which is a subsidiary of Pakistani conglomerate company Fauji Foundation.
 | |
| Company type | Public |
|---|---|
| PSX: FFL | |
| Founded | 1966 |
| Headquarters | Lahore, Pakistan |
Key people | Muhammad Haseeb Aslam (CEO)[1] |
| Parent | Fauji Foundation |
| Website | www |
The company is known for its dairy products and brands such as Nurpur, and Dostea.[2] The company is based in Lahore, Pakistan. It is listed on the Pakistan Stock Exchange.[3]
History edit
Noon family edit
The company was established in 1966 as part of Noon Group by Pakistani political family Noon family.[4][5] The company shares were formerly held by Pakistani politician Malik Adnan Hayat Noon and Salman Hayat Noon with 48.9 percent and 25.5 percent respectively.[3]
Fauji Foundation edit
In 2015, Fauji Foundation acquired Noon Pakistan.[6] Before acquisition, company was in loss for two consecutive years.[7]
In 2018, Chinese company, Yili Group, expressed its intent to buy 51 percent stake in Fauji Foods.[8] Later, in 2019, it has withdrawn its interest.[9]
FFBL Investment edit
Fauji Fertilizer Bin Qasim will give a loan of Rs. 3.5 billion to Fauji Foods.[10]
References edit
- ^ Iqbal, Ahsan. "Our Leadership".
- ^ Hussain, Dilawar (May 4, 2015). "FFBL diversifies from food to power". DAWN.COM.
- ^ a b Hussain, Dilawar (November 23, 2014). "Fauji Fertiliser to enter food processing industry". DAWN.COM.
- ^ "Fauji Foods losses continue, despite revenue growth". Profit by Pakistan Today. February 6, 2021.
- ^ "Noon Pakistan Limited (NOPK)". November 24, 2015.
- ^ "FFBL board approves acquisition of Noon Pakistan". www.thenews.com.pk. February 16, 2015.
- ^ "FFBL, Fauji Foundation to acquire Noon Pakistan". The Express Tribune. March 28, 2015.
- ^ "China's Yili Group expresses intent to acquire Fauji Foods". The Express Tribune. August 1, 2018.
- ^ "Chinese industrial group withdraws intention to acquire Fauji Foods". The Express Tribune. April 30, 2019.
- ^ 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.