Icepac Limited: Strategic Growth Choices for an SME in the Frozen Food Industry

Abstract

In 2012, Mr Mansoor Arifeen, CEO of Icepac Ltd/Kold Karrier (Pvt.) Ltd, was considering growth options for his small businesses. Icepac Ltd was the first company to provide branded, value-added frozen vegetables and meat products within Pakistan, and from Pakistan to the export market. He had managed to survive in the challenging frozen food industry by diversifying into logistics (Kold Karrier [Pvt.] Ltd) and warehousing (Icepac Ltd). Over the years, Icepac Ltd/Kold Karrier had grown from microbusinesses in 1988–1990 to small and medium enterprises. The majority ownership still rested with Mr Arifeen for both the businesses. He faced two options for growth. Option one was an investment in warehousing and logistics. Option two was to focus on frozen food business, investing heavily in developing the Icepac brand. Option two could be limited to the local market or expanded to the export market. Each of these decisions had its own pros and cons. However, it was a complex decision for him as he had always been emotionally invested in the frozen food business, as frozen vegetables had been the raison d’être for his entrepreneurial venture.