Public Announcement of Intention to acquire upto 51% of voting shares of Engro Foods Limited by FrieslandCampina International Holding BV

Karachi, FrieslandCampina International Holding BV (FC) informed Pakistan Stock Exchange that they have a plan to undertake the acquisition of upto 51% of voting shares of Engro Foods Limited directly and/or through a Special Purpose Vehicle, (SPV) (Transaction).

FrieslandCampina expects to benefit from the Conversion of the market from loose to packaged dairy consumption that will drive the volume growth of packaged dairy products. At present less than 10 per cent of tradable milk consumed in Pakistan is processed and offered in packages. The conversion is expected to accelerate in the near future as a result of the growing middle income class, a desire for higher quality milk, as well as the increasing urbanization.

Engro Foods Limited is a public limited company incorporated in Pakistan. The foundations of the company are formed under the Companies Ordinance, 1984. The business of the company is associated with manufacturing, processing and selling dairy products, juices, ice cream and frozen desserts. Besides this the company also owns and operates a dairy farm. The company operates internationally and is tagged as a halal food producer. The shares of the company are quoted on the Karachi and Lahore stock exchanges of Pakistan. The registered office of the company is located in Karachi.

The company is a subsidiary of Engro Corporation Limited. The company owns processing units located in Sukkur and Sahiwal. Most renowned brands to name a few of the company are Olper’s, Olwell, Tarang, Omore and Owsum.

The symbol “EFOOD” is being used by the stock exchange for the shares of Engro Food Limited.