June 08, 2022 (MLN): Sunridge Foods (Private) Limited, a wholly-owned subsidiary of Unity Food Limited will acquire Uni-Food Industries Limited at a total cost of Rs1.2 billion including bank and other liabilities, the notice sent to PSX showed today.
The proposed transaction shall be subject to the execution of a definitive agreement and compliance with all applicable statutory and legal requirements.
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”.
