Fauji_Foods

Fauji Foods

Fauji Foods

Pakistani food company

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.

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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

Noon family

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

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Chinese company, Yili Group, expressed its intent to buy 51 percent stake in Fauji Foods.[8] Later, in 2019, it has withdrawn its interest.[9]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

Fauji Fertilizer Bin Qasim will give a loan of Rs. 3.5 billion to Fauji Foods.[10]

References

  1. [1]
    Iqbal, Ahsan. "Our Leadership".
  2. [2]
    Hussain, Dilawar (May 4, 2015). "FFBL diversifies from food to power". DAWN.COM.
  3. [3]
    Hussain, Dilawar (November 23, 2014). "Fauji Fertiliser to enter food processing industry". DAWN.COM.
  4. [4]
    "Fauji Foods losses continue, despite revenue growth". Profit by Pakistan Today. February 6, 2021.
  5. [5]
    "Noon Pakistan Limited (NOPK)". November 24, 2015.
  6. [6]
    "FFBL board approves acquisition of Noon Pakistan". www.thenews.com.pk. February 16, 2015.
  7. [7]
    "FFBL, Fauji Foundation to acquire Noon Pakistan". The Express Tribune. March 28, 2015.
  8. [8]
    "China's Yili Group expresses intent to acquire Fauji Foods". The Express Tribune. August 1, 2018.
  9. [9]
    "Chinese industrial group withdraws intention to acquire Fauji Foods". The Express Tribune. April 30, 2019.
  10. [10]
    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.


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