Daily Times

KARACHI: The National Foods Limited (NFL), further expanding its footprint across the globe, has acquired controlling interest of famous cash & carry store in Canada, A1 Bags & Supplies Inc.

“The Company’s wholly owned subsidiary i.e. National Foods DMCC based in Dubai through its further subsidiary namely National Epicure Inc., is in process of acquiring controlling interest of a company in Canada namely A1 Bags & Supplies Inc”, said Fazal Ur Rehman Hajano, Company Secretary at NFL.

A1 Cash + Carry is owned by a renowned Canadian based Pakistani businessman, Amjad Pervaiz and the company stocks over 5000 products in its 100,000sqft location at 6400 Kennedy Road in Mississauga, Ontario.

A1 Cash + Carry is a master distributor and wholesaler of food service products, disposables and janitorial/sanitation products to more than 500 customers daily.

NFL is principally engaged in the manufacture and sale of convenience based food products. It is listed on Karachi, Lahore and Islamabad Stock Exchanges. National Foods DMCC was registered on 7 November 2012 in Dubai Multi Commodities

Centre (DMCC) pursuant to Dubai (DMCC) Law No. 4 of 2001 and operates in the United Arab Emirates (“UAE”) under a trade license issued by DMCC, the company is a wholly owned subsidiary of NFL Pakistan.

National Foods DMCC also has two wholly owned subsidiaries including National Epicure Inc. and National Foods Pakistan (UK) Limited.

National Epicure Inc. was incorporated in Canada and the company is principally engaged in the trading of food products while National Foods Pakistan (UK) Limited was incorporated in United Kingdom as a private company and the company is principally engaged in the trading of food products.

‘The Company will continue to create value through investments, innovations and improvement of operations. We will continue to follow a focused approach to aggressively grow the business by driving volumes and reaping the benefits of high scales. The management is hopeful to counter the economic and competitive challenges and continue on the path of growth” said Chairman NFL, A. Majeed, in a financial report for the third quarter of 2016.