CCL Holding Eyes Majority Stake in Mitchell’s Fruit Farms

CCL Holding (Pvt.) Limited has officially declared its intention to procure up to 26.26% of Mitchell’s Fruit Farms Limited (MFFL), a long-standing Fast-Moving Consumer Goods (FMCG) company listed in Pakistan.

Arif Habib Limited, acting as the Manager to the Offer, communicated this development in a notification to the Pakistan Stock Exchange (PSX) this Monday.

According to the public offer, CCL Holding intends to acquire 6,007,632 ordinary shares of Mitchell’s, setting a purchase price of Rs232.75 per share.

This Public Announcement of Intention (PAI) comes after CCL Holding’s previous acquisition of a 47.48% share in MFFL. This included the purchase of a 40.63% stake from Mitchell’s sponsors through a Share Purchase Agreement (SPA) dated May 14, 2025, at Rs180 per share. Furthermore, they acquired an additional 6.85% on July 23, 2025, from institutional investors and family shareholders, including the Babar Ali Foundation—established by Syed Babar Ali, the company’s Chairman—and IGI Investments (Private) Limited, through a negotiated transaction at the increased rate of Rs232.75 per share.

With this latest offer, CCL Holding aims to elevate its total ownership in Mitchell’s to exceed 73%.

CCL Holding serves as the parent company to CCL Pharmaceuticals (Pvt) Limited, a fully-owned subsidiary primarily involved in the manufacturing and marketing of branded generic pharmaceuticals and consumer healthcare products.

Mitchell’s Fruit Farms Limited, a Pakistani producer specializing in farm and confectionery goods, boasts a history that spans back to 1933. Following Pakistan’s independence, the company transitioned from Indian Mildura Fruit Farms to its current name, Mitchell’s Fruit Farms Limited.

The company became a public entity in 1993 and secured its listing on the stock exchange in 1996. Its core business revolves around the production and distribution of diverse farm and confectionery items, encompassing beverages, ketchups, sauces, preserves, and a selection of ready-to-cook and ready-to-eat food products.