Shan Foods refutes acquisition claims rife on social media

Shan Foods on Saturday refuted claims rife on social media of the company getting acquired by a multinational company.

In a statement released, the corporation declined the rumours regarding its acquisition and clarified in case of future that any such news will be communicated by the company to the respective shareholders.

“Speculative news has been circulating on social media channels claiming that a multinational company is in the process of acquiring and/or has acquired Shan Foods,” read the statement.

“As a proud Pakistani company which has seen exponential growth globally, Shan Foods continues to explore organic and inorganic opportunities for further enhancement of its business,” it added.

Debunking the claims, the company said in the statement: “However, if and when such a situation develops, we will be the first to communicate the news to our respective stakeholders.

“Over the course of almost 40 years, Shan Foods has worked on establishing itself as a powerful global brand. The company has made its mark in over 65 countries across five continents,” it continued.

“The team behind the brand continues to work diligently to deliver enticing and innovative products for its customers,” it further stated.