Wilmar International's Acquisition Boosts Pakistan's Food Industry

The Competition Commission of Pakistan (CCP) has recently approved the acquisition of a 23.20% shareholding in M/s. Unity Foods Limited by four acquirers, including a Singapore-based investment holding company. This move signifies a positive development in the Pakistani food industry, showcasing international investor confidence in the country's economy.

One of the key acquirers, M/s. Wilmar Pakistan Holdings Pte. Limited, is a subsidiary of Wilmar International Limited, a renowned Fortune 500 company based in Singapore. The other three acquirers consist of M/s. Unity Wilmar Agro (Private) Limited, a local company engaged in the edible oils business, and two individual Pakistani investors who are already shareholders of the target company.

The CCP's thorough merger analysis concluded that the acquisition would not lead to the dominance of the acquirers in the relevant market post-transaction, hence granting the necessary authorization. This decision underscores the attractiveness of Pakistan's economic landscape and its growth potential, as evidenced by Wilmar International's investment in Unity Foods.

Wilmar International's commitment to investing in Unity Foods reflects its confidence in Pakistan's economy and highlights the resilience and promise of the country's economic environment. This approval sets a positive tone for future investments in Pakistan's food sector and reinforces the country's position as an attractive destination for international investors.