Wilmar International Limited has assumed management control of Unity Foods Limited following a shareholders’ agreement signed with certain stakeholders.
Unity Foods informed the Pakistan Stock Exchange (PSX) on Thursday that the agreement, dated 21 December 2025, grants Wilmar Group immediate management authority without constituting a new acquisition or change in shareholding.
Under the framework, Wilmar-approved executives, including a Chief Executive Officer (CEO) and Chief Financial Officer (CFO), have been appointed to lead the company, taking operational and strategic decisions with immediate effect.
The company stated that legal proceedings are currently underway concerning certain aspects of the agreement between shareholders, limiting its ability to provide further public commentary on the matter.
Unity Foods said in a notice: “Certain matters between shareholders relating to the aforesaid arrangements are currently subject to proceedings before the competent courts of law in Pakistan.”
The company emphasised that, due to ongoing litigation, it is constrained from commenting further on issues under adjudication while continuing to operate under Wilmar’s management oversight.
Officials noted that the management transition aims to ensure operational stability, maintain good governance, and strengthen oversight while keeping the relevant factual information transparent for all shareholders and stakeholders.
The disclosure clarifies that Wilmar’s assumption of management control stems directly from the shareholders’ agreement rather than a market acquisition, reaffirming that the transaction follows legal and regulatory frameworks.
