Pakistan’s rice exporter Matco Foods transfers spice, masala segment to Falak Foods subsidiary

In a strategic move, Matco Foods Limited, one of Pakistan’s leading rice exporters, has formally transferred its spice and masala packaging segment to its wholly owned subsidiary, Falak Foods (Private) Limited.

The listed company informed its stakeholders in a notice to the Pakistan Stock Exchange (PSX) on Monday.

“We are pleased to inform you that further to our earlier disclosure dated May 9, 2025 we have executed a Business Transfer Agreement dated November 17, 2025 with our wholly owned subsidiary Falak Foods (Private) Limited, pursuant to which the spice/masala packaging segment of Matco Foods Limited under the brand of ‘Falak Foods’ has been carved out and transferred to Falak Foods (Private) Limited,” read the notice.

In a separate notice on Monday, Matco Foods shared that the Faisalabad Industrial Estate Development & Management Company (FIEDMC) has allotted the company a plot in the Special Economic Zone, Allama Iqbal Industrial City, measuring approximately 13.21 acres.

“The plot is adjacent to the current plot on which the corn starch division of the company is operating. This allotment is in line with our strategic expansion plans and will cater to future expansion requirements,” read the notice.

Earlier in May, the company approved a corporate restructuring initiative involving its corn starch business.

Under the proposed initiative, Matco Foods would transfer its corn starch business to its wholly owned subsidiary, i.e. Matco Corn Products (Private) Limited (MCPPL). In return, MCPPL will issue shares to Matco Foods.

Founded as Matco Rice Processing Private Limited in 1964. Matco Foods is principally engaged in the processing and export of rice, rice protein, rice glucose, pink salt, condiments and spices, dessert mixes, etc.

The company is one of the largest rice exporters of the country with exports of its flagship brand ‘Falak’ in over 65 countries across the globe.