Simonds Farsons Cisk plc has announced a transformative restructuring of its food business, spinning it off into a separate company to be listed on the Malta Stock Exchange.
This bold move follows a strategic review, with Chairman Louis Farrugia previously stating in the company’s 2023 annual report that the success of the Trident Estates spin-off had inspired a similar strategy for Quintano Foods Ltd and Food Chain Ltd.
The spin-off will see the new entity issuing an equal number of shares to those currently held under Farsons, with these shares distributed as a dividend in specie to existing shareholders. Executive management has been tasked with initiating the necessary legal, regulatory, and taxation procedures to facilitate the process.
The proposal will require shareholder approval at a general meeting, and Farsons anticipates completing the restructuring by the second half of 2025, pending regulatory and shareholder consent.
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.
Later, Mr Farrugia expanded Farsons’ catering operations, establishing Food Chain Holdings Limited - now Food Chain Limited - which brought global franchises like Pizza Hut, Burger King, and KFC to Malta.
Written By
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.
