Mitchells Fruit Farms Stakeholders Divest to CCL Holding

Key investors in Mitchells Fruit Farms Limited (MFFL), which include the Babar Ali Foundation—established by the company’s Chairman, Syed Babar Ali—along with IGI Investments (Private) Limited, have sold their complete equity stake in MFFL to CCL Holding (Private) Limited.

IGI Holdings, the parent organization of IGI Investments, shared this information in its notification to the Pakistan Stock Exchange (PSX) on Wednesday.

The notification stated, “We have received notice dated July 23, 2025, from a significant shareholder of the company, the Babar Ali Foundation, indicating that the foundation and its board members have disposed of their respective shareholdings of 2.43% and 0.70% in Mitchells Fruit Farms Limited (Mitchells) to CCL Holding (Private) Limited at an agreed price of Rs232.75 per share on July 23, 2025.”

It further stated that IGI Investments also completed the sale of its entire stake of 3.72% in Mitchells to CCL Holding (Private) Limited at a negotiated rate of Rs232.75 per share on July 23, 2025, contingent upon relevant corporate and regulatory approvals.

CCL Holding serves as the parent company for CCL Pharmaceuticals (Pvt) Limited, a fully owned subsidiary primarily involved in the production and distribution of branded generic pharmaceuticals and over-the-counter healthcare products.

Mitchell’s Fruit Farms Limited, a Pakistani producer of agricultural and confectionery goods, boasts a heritage tracing back to 1933. Following Pakistan’s independence, the company transitioned from Indian Mildura Fruit Farms to its current name, Mitchells Fruit Farms Limited.

The company became a public entity in 1993 and secured a listing on the stock exchange in 1996. Its core business revolves around the manufacturing and sale of diverse agricultural and confectionery items, encompassing beverages, ketchups and sauces, preserves, ready-to-cook options, and ready-to-eat meals.

Previously, in May, MFFL formalized a Share Purchase Agreement with CCL Holding (Private) Limited.