FrieslandCampina swoop for Pakistan’s Engro Foods

Dutch dairy firm FrieslandCampina has unveiled plans to acquire a 51% stake in Engro Foods in Pakistan, where consumers primarily drink unprocessed raw milk.

FrieslandCampina approached Engro, Pakistan’s second-biggest listed dairy group, to buy 391 million shares from its parent Engro Corp, the Asian company said in a stock exchange filing. The acquisition could cost up to €450m.

Friesland’s Asian plans were cited in 2015 accounts published yesterday, detailing net profits of €343m, boosted by a 7.8% sales volume rise, which helped offset the impacts of a difficult year in global dairy markets.