At an Annual General Meeting held on Thursday (today), shareholders of Simonds Farsons Cisk plc approved a significant corporate restructuring that will see its food business spun off into a separate entity.
The move will result in the formation of Quinco Holdings plc, which is set to be listed independently on the Malta Stock Exchange.
Chairman Louis A. Farrugia described the past year as one of “strategic importance,” highlighting the Board’s decision to proceed with the spin-off of Quintano Foods Limited and Food Chain Limited.
Shareholders will receive shares in Quinco Holdings through a dividend in kind. “We are confident that this reorganisation will allow each business to pursue focused growth under distinct leadership,” said Mr Farrugia, noting the positive precedent set by the Trident Estates spin-off in 2018.
A press release by the company noted that expansion of the Burger King and KFC networks has continued, alongside the rationalisation of Pizza Hut outlets and the advancement of a major logistics centre in Ħandaq, set for completion in 2026.
The roots of Farsons’ food business can be traced back to 1956, when Anthony Miceli-Farrugia became Managing Director of L. Farrugia & Sons Ltd, better known as Farsons. Under his leadership, the company ventured into catering through Express Catering Company Limited, which operated the 'Wimpy' restaurant chain and developed the popular 'il-Fortizza' restaurant.
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Nicole Zammit
When she’s not writing articles at work or poetry at home, you’ll find her taking long walks in the countryside, pumping iron at the gym, caring for her farm animals, or spending quality time with family and friends. In short, she’s always on the go, drawing inspiration from the little things around her, and constantly striving to make the ordinary extraordinary.
