En­gro ‘El­e­vat­ing Con­sumer De­light World­wide’

Enterprise - - Investment -

The agree­ment signed be­tween En­gro Cor­po­ra­tion and US-based Al Safa Ha­lal re­veals En­gro’s strong in­vest­ment plan to cap­ture the rapidly grow­ing Ha­lal food in­dus­try as En­gro Cor­po­ra­tion has de­cided to diver­sify into meat-based prod­ucts.

The ini­tia­tive has been taken by En­gro Foods Lim­ited, a sub­sidiary of En­gro Cor­po­ra­tion. En­gro’s goal to be­come the largest Pak­istan-based com­pany op­er­at­ing in­ter­na­tion­ally would be achieved through this agree­ment. The setup for En­gro’s Ha­lal food ex­pan­sion will be launched with its head of­fice in Toronto. The fi­nan­cial as­pects of the ini­tia­tive have al­ready been com­pleted.

Meat is a new line of prod­ucts for En­gro Foods as the com­pany’s op­er­a­tions in Pak­istan are pri­mar­ily fo­cused on dairy prod­ucts such as milk and ice-cream. Al Safa spe­cial­izes in meat-based frozen foods, such as chicken, tur­key, beef and pizza; it also has a veg­e­tar­ian fare such as falafel prod­ucts.

Ac­cord­ing to Sar­faraz A. Rehman, CEO En­gro Foods Lim­ited, the Eco­nomic Co­or­di­na­tion Com­mit­tee and the State Bank of Pak­istan had given ap­proval for a deal of up to $15 mil­lion (Rs. 1.28 bil­lion) and the fi­nal trans­ac­tion was close to this fig­ure.

En­gro’s de­ci­sion-mak­ers re­gard the Ha­lal food in­dus­try to po­ten­tially be­come the en­gine of growth for any econ­omy. Be­ing a multi­na­tional cor­po­ra­tion, En­gro seeks to carve out its niche in the Ha­lal Food mar­ket. En­gro Foods eyes ris­ing sales prospects over the next three to four years, as its prod­uct gets rec­og­nized in the North Amer­i­can mar­ket. The cor­po­ra­tion is plan­ning ex­pan­sion be­yond Al Safa’s prod­uct range. En­gro is sup­ported by in-depth mar­ket and prod­uct re­search in the North Amer­i­can mar­ket, a re­gion with a 7 mil­lion strong Mus­lim com­mu­nity.

En­gro is guided by the most en­ter­pris­ing lead­ers of the cor­po­rate world in Pak­istan. The in­ter­na­tional Ha­lal food pro­ject re­flects En­gro’s vi­sion of ‘El­e­vat­ing Con­sumer De­light World­wide’ gen­er­at­ing a sig­nif­i­cant por­tion of its rev­enue from for­eign op­er­a­tions

Newspapers in English

Newspapers from Pakistan

© PressReader. All rights reserved.