Merit Packaging Limited board approved the sale of assets, including the plant and machinery (flexible packaging unit) and goodwill, for a total of Rs1 billion.
The decision to sell the assets was taken with the consent of the shareholders in an Extraordinary General Meeting held on June 27, 2025, according to the company’s filing at the Pakistan Stock Exchange (PSX) on Monday.
The assets, located at 17-B, Sector 29, Korangi Industrial Township in Karachi, will be sold to Kompass Pakistan (Private) Limited, the buyer, based on the best available offer. The Board of Directors has been authorised to proceed with the sale, delegating powers to the company secretary, CFO, and a director to act on behalf of the company.
The board also outlined the procedures for finalising the transaction, including entering into an asset sale agreement, preparing and executing the necessary documentation, and ensuring compliance with all relevant authorities.
Additionally, the Board has been empowered to modify the resolution as required by the Securities and Exchange Commission of Pakistan (SECP) without needing further shareholder approval.
The sale is expected to streamline operations for Merit Packaging while ensuring a competitive transaction process.
Merit Packaging Limited, associated with the Lakson Group of Companies, was incorporated on January 28, 1980 in Pakistan as a public limited company. The company is mainly engaged in the manufacture and sale of printing and packaging materials.
Its customer base spans a wide range of sectors, including consumer goods, food and beverage, surgical instruments, and textiles. Well-known brands such as Nestle Pakistan, Colgate, Unilever, and National Foods are part of its clientele.
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