KARACHI - Sunridge Foods, Pakistan’s premier staple food company, has acquired Unifood Industries Limited in its bid to establish itself as a truly national brand. The move is considered a major expansion by the staple food giant which offers flour, rice, sugar, salt and pulses and signals its intentions of entering the FMCG sector with value-added products. The move is part of management’s plan to aggressively expand the production capacity of Sunrdige’s Foods and reduce distribution costs in central and northern parts of the country. It also intends to add new products to the portfolio. The move is intended to capitalize on the operational benefits of economies of scale, and product diversity. Resultantly the company expects substantial increase in its profitability. The forward integration move allows Good Goodies, the flagship confectionary brand of UFIL, to operate more efficiently as it would capitalize on Sunridge’s premium quality flour, oil, sugar and salt products. Additionally, Sunridge’s strengths of innovation, technology, health & hygiene and nutrition-focused fortification would add considerable value for the consumers of Good Goodies products. Ready to fulfill all preconditions, govt tells IMF
The company plans to increase its product offerings to include a wide range of appetizing delicacies aimed at improving consumer experience and satisfaction. The move to acquire UFIL started in June last year when Unity Foods announced its acquisition plans to the Pakistan Stock Exchange. The process is completed after the execution of a definitive agreement and compliance with all applicable statutory and legal requirements, UniFoods Industries Limited was established in Pakistan as a public limited company in September 2016. It was a consortium/ Joint Venture between Faran Sugar, Habib Sugar and Mehran Sugar. The company’s main activity is manufacturing, selling, and distributing food products, mainly cupcakes and plain cakes. The Nation, 25 Jan, 2023