August 3, 2018
China dairy giant, Yili, considering a 51% stake in Fauji Foods
In a filing to the Shanghai Stock Exchange earlier this week, Inner Mongolia Yili Industrial Group Co., one of China's largest dairy companies has submitted its interest in Pakistan's Fauji Foods Limited (FFL).
Founded in 1966, the company was formerly known as Noon Pakistan Limited. FFL has "achieved market leadership in several food categories", including dairy products such as butter, cheese and UHT milk, marketed under their brand name Nurpur.
Yili will be holding talks with the parent company, Fauji Fertiliser Bin Qasim Limited with regards to acquiring 51% of management shares in FFL.
FFL generated a net sales of PKR7 billion (US$56.4 million) in 2017 while Yili's revenue totalled to CNY68.1 billion (US$9.98 billion) in the same year.