Fauji Group enters dairy processing business with acquisition of
majority stakes in Noon Pakistan
Islamabad – FFBL along with Fauji Foundation today signed an agreement for acquisition of 51%
shares (FF 12.5 % and FFBL 38.5%) of Noon Pakistan Limited. Purchase of majority stakes is part
of Fauji Group Risk Mitigation and Growth Strategy. Syed Aamir Ahsan, Chief Financial Officer
FFBL and Mr Qaiser Javed, Director Finance Fauji Foundation for Fauji Group and Malik Adnan
Hayat Noon and Mr Salman Hayat Noon for Noon Pakistan Limited signed the agreement. Lt Gen
(R) Khalid Nawaz Khan, Chairman Fauji Foundation and Lt Gen (R) Muhammad Haroon Aslam,
MD&CEO FFBL witnessed signing of the agreement ceremony held at Serena Hotel Islamabad.
Also present on the occasion was Mr. Jesper Moller Sorenson, Ambassador of Denmark.
For last three years, FFBL has been conducting extensive feasibility studies to determine
potential, opportunities and risks related to the formal dairy sector. It was at advance stage to set
up a Greenfield Dairy Project at Pindi Bhattian when an opportunity for acquisition of Noon Pakistan
Limited came resulting into purchase of majority stakes.
While Fauji Group can add value to the business through efficient management, much
needed funds and corporate culture, Noon Pakistan being the oldest dairy processing company in
the Country can do so with its rich experience and recall of mind brand “Nurpur”.
FFBL plans to revamp entire dairy value chain; from farm to consumer to ensure availability
of quality food products. Towards this end, the Change Management under Fauji Group umbrella
will focus on production of high quality food products consistent with national and international food
and health safety standards.
New management has an ultimate goal to be among the leading Dairy and JNSD players in
Pakistan operating locally as well as internationally offering consumers with unadulterated, high
quality food products that all segments of the society can afford. Equipped with state of the art
machinery and best practices, it has an objective to be a Quality Conscious Company.
On account of corporate social responsibility, FFBL is considering to educate and develop
small milk farming that is backbone of the dairy industry. Through advice in animal health and
productivity, it will help the small farmers earn better livelihoods in a sustained manner.
FFBL has also made substantial investments in food, energy and banking sectors during
last three years as under:-.
FFBL is the largest shareholders with 35% Equity in Foundation Wind Energy - I & II. These
two projects having 50 MW capacity each are set up in District Thatta and are now online. FFBL
Power Company Limited’s 118 MW coal fired plant has been initiated with a cost of $265 million at
Port Qasim. The project is expected to come online in early 2017. In banking sector, the Company
acquired 22% equity in Askri Bank in 2013.
Diversification into Food Business includes two subsidiaries; namely Fauji Meat Limited and
Fauji Food Limited. FFBL and FF will hold 75% and 25% equity each in these companies. FML’s
World Class Halal Meat Processing Facility is expected to be completed by the end of the Year at
a cost of Rs. 7.5 billion.
.