January 24, 2023 (MLN): The transaction of acquisition of 100% shares of Uni-Food Industries Limited by Sunridge Foods (Pvt.) Limited, the wholly-owned subsidiary of Unity Foods has been completed, the company's filing on PSX showed on Monday.
Sunridge is expected to benefit from this acquisition by entering the "value-added" space and will also be eying the export of products manufactured by Uni-Food Industries Limited, in the future.
Earlier, on June 06, 2022, Unity Foods had announced that Sunridge decided to make an offer to purchase 100% shareholding of Uni-Food Industries Limited which will help facilitate it to enter the value-added product segment in the confectionery business for sale in both local and international markets.
To note, Uni-Foods Industries Limited was established in Pakistan as a public limited company in September 2016. The company's main activity is to manufacture, sell, and distribute food products.
Uni-Foods owns a bakery and confectionery brand by the name “Good Goodies Cakes”.
