In March last year, a press release from ICI Pakistan marked what could be a big shift in the infant formula market in Pakistan. ICI Pakistan bought the majority share of NutriCo Morinaga Pvt. Ltd, the company that owns and distributes Japanese Morinaga infant formula.
The acquisition affects the lives of millions of women who are young mothers and mothers-to-be due to the significance of the product made by Morinaga. Now, barely a year after acquiring ICI, Japanese parent company and milk magnates Morinaga Milk Industry Co are seeking to buy a 33% stake in the ICI subsidiary for a whopping $56 million. .
Trade in infant formula is important. Globally, its value has been estimated at around $12 billion, and much of this success comes from infant formula sales in developing third world countries like Pakistan. The history of infant formula in Pakistan and ownership of Morinaga is fascinating. But to fully understand it, and the hold that products like Morinaga infant formula have in countries like Pakistan, it’s important to go back and look at the history of infant formula and how we got here. the.