Karachi March 19 2024: Wilmar Pakistan Holdings Pte. Ltd, Unity Wilmar Abro (Private) limited, Muhammad Farrukh and Ms Fehmida collectively submit Public Announcement of Intention to acquire 23.20 percent of the shareholding Interest and joint control of Unity Foods Limited.
Wilmar Pakistan holdings already owns 259 million shares or 21.74 percent of Unity Foods Limited. According to the details Wilmar Pakistan will acquire 218 million shares or 18.33 percent more shares of the target company while 2.7 million shares or 0.23 percent will be bought by Unity Wilmar Agro. Rest of the shares will be acquired by Muhmmad Farrukh (4.4 percent) and Ms Fahmida Amin (0.23 percent).
Wilmar Pakistan Holdings was Incorporated in Singapore on 30 January 1997 and Is a wholly owned subsidiary of Wilmar International limited, a company listed on Singapore Exchange. The business activities of Wilmar and its group companies include oil palm cultivation, oilseed crushing, edible oils refining, flour and rice milling, sugar milling and refining, manufacturing of consumer products, ready·to·eat meals, central kitchen products, specialty fats, oleochemicals, biodiesel and fertilizers as well as food park operations. Wilmar Group has over 1,000 manufacturing plants and an extensive distribution network covering China, India, Indonesia and some 50 other countries and regions.
Through scale, integration and the logistical advantages of its business model, Wilmar Group can extract margins at every step of the value chain, thereby reaping operational synergies and cost efficiencies.
Supported by a multinational workforce of about 100,000 people, Wilmar Group embraces sustainability in its global operations, supply chain and communities.
Unity Wilmar Agro (Private) limited is principally involved in multi crop oil seed crushing and processing in Pakistan and buys, sells, prepares for market and deals in all products related to semi-refined oil, refined edible cooking oil and meals.
Mr. Muhammad Farrukh is the Chief Executive Officer of Unity Foods limited, Unity Wilmar Agro (Private) limited, Unity Enterprises (Private) limited and Sunridge Foods (Pvt.) ltd. His career spans over two decades, encompassing various facets of the Fast-Moving Consumer Goods sector. both nationally and internationally. His expertise extends to the processing and trading of food products, agro-based commodities, and animal feeds, involving the sourcing of goods from diverse global origins and their distribution to destinations worldwide.
