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Matco to setup joint venture company with Barentz International

LAHORE: Matco Foods on Friday announced it had reached an agreement with Barentz International to set up a joint venture company in Pakistan for the import, sales, and distribution of ingredients used in pharmaceutical, personal care, food & nutrition, and animal nutrition in the life science and food nutrition sector.

In a notification sent to the Pakistan Stock Exchange (PSX) on Friday, Matco Foods said the joint venture with Barentz International was subject to approval from the Competition Commission of Pakistan (CCP).

Also, it added the investment in the joint venture would be subject to approval from CCP and completion of required compliance requirements under applicable law.Matco said these activities were in line with its existing rice glucose and rice protein business.

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