Fauji Foods

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Fauji Foods
Company typePublic
PSXFFL
Founded1966; 58 years ago (1966)
HeadquartersLahore, Pakistan
Key people
Muhammad Haseeb Aslam (CEO)[1]
ProductsNurpur
Dostea
RevenueIncrease Rs. 19.809 billion (US$69 million) (2023)
Increase Rs. 936.507 million (US$3.2 million) (2023)
Increase Rs. 605.111 million (US$2.1 million) (2023)
Total equityIncrease Rs. 14.055 billion (US$49 million) (2023)
OwnerFauji Fertilizer Bin Qasim (47.84%)
FFC Energy Limited (18.45%)
FFBL Power Company (15.87%)
Number of employees
 (2023)
ParentFauji Foundation
SubsidiariesFauji Infraavest Foods
Fauji Cereals
Websitefaujifoods.com
Footnotes / references
Financials As of 30 June 2023 [2]

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. It is based in Lahore, Pakistan.

Fauji Foods is known for its dairy products and brands such as Nurpur, and Dostea.[3] It is listed on the Pakistan Stock Exchange.[4]

History[edit]

Fauji Foods was established in 1966 as part of Noon Group by Pakistani political family Noon family.[5][6] 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.[4]

In 2015, Fauji Foundation acquired Noon Pakistan.[7] Before acquisition, company was in loss for two consecutive years.[8] Fauji Fertilizer Bin Qasim will give a loan of Rs. 3.5 billion to Fauji Foods.[9]

In 2018, Chinese company, Yili Group, expressed its intent to buy 51 percent stake in Fauji Foods.[10] Later, in 2019, it has withdrawn its interest.[11]

In February 2024, Fauji Foods acquired Fauji Infraavest Foods Limited and Fauji Cereals from Fauji Foundation.[12]

References[edit]

  1. ^ Iqbal, Ahsan. "Our Leadership".
  2. ^ "Fauji Foods Annual Report 2023" (PDF). Retrieved 18 May 2024.
  3. ^ Hussain, Dilawar (May 4, 2015). "FFBL diversifies from food to power". DAWN.COM.
  4. ^ a b Hussain, Dilawar (November 23, 2014). "Fauji Fertiliser to enter food processing industry". DAWN.COM.
  5. ^ "Fauji Foods losses continue, despite revenue growth". Profit by Pakistan Today. February 6, 2021.
  6. ^ "Noon Pakistan Limited (NOPK)". November 24, 2015.
  7. ^ "FFBL board approves acquisition of Noon Pakistan". www.thenews.com.pk. February 16, 2015.
  8. ^ "FFBL, Fauji Foundation to acquire Noon Pakistan". The Express Tribune. March 28, 2015.
  9. ^ 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.
  10. ^ "China's Yili Group expresses intent to acquire Fauji Foods". The Express Tribune. August 1, 2018.
  11. ^ "Chinese industrial group withdraws intention to acquire Fauji Foods". The Express Tribune. April 30, 2019.
  12. ^ "Fauji Foods acquires subsidiaries". The News International.