Savola Group

Last updated
Savola Group
مجموعة صافولا
Company type Public
ISIN SA0007879162  OOjs UI icon edit-ltr-progressive.svg
FoundedJanuary 10, 1979;45 years ago (January 10, 1979)
Headquarters,
Key people
RevenueSAR 24.669 billion (2021) [2]
Total assets 26,657,711,000 Saudi riyal (2019)  OOjs UI icon edit-ltr-progressive.svg
Number of employees
around 32,000 (2016)
Subsidiaries Panda Retail Company & Savola Foods Company

The Savola Group is a Saudi Arabian industrial company. The group's major holdings supply Saudi Arabia, the Middle East and North Africa, and Turkey with edible oils, sugar, fresh dairy products, and restaurants serving fast foods. The group also owns the largest grocery retailing chain in the Middle East, Panda Retail Company.

Contents

It is ranked as number 9 among top 100 companies in the Saudi Arabian market and ranked as number 2 among the industrial sector after SABIC. Savola has recently listed its Oils and Fats division in the Saudi Stock market under the name Afia International.[ citation needed ]

It was founded in 1979 [3] as Saudi Vegetable Oils and Ghee Co., initially the company's business was importing and refining edible oil. [4]

Savola is the kingdom's biggest food company by revenue. [4]

According to Al-Waleed bin Talal, "This group was established by me and some of my allies...I'd created what you could call the 'Nestlé of the Middle East' – the Savola Group, which is a very dominant force in its field." [5]

Acquisitions

In 2009, Savola signed a deal with Alhokair Group to buy Giant supermarket outlets in Saudi Arabia. [6]

In October 2011, Savola bought 78% of Egypt's Al-Malika and Al-Farasha companies. [7]

In 2018, Savola acquired 51 percent stake of Dubai-based Al Kabeer Group. [8]

In 2022, Savola acquired Egybelg. [9]

Related Research Articles

<span class="mw-page-title-main">Al Waleed bin Talal Al Saud</span> Saudi Arabian royal, businessman and investor (born 1955)

Al Waleed bin Talal Al Saud is a Saudi Arabian billionaire businessman, investor, philanthropist, and royal member of the House of Saud. In 2008, he was listed on Time magazine's Time 100, an annual list of the hundred most influential people in the world. Al Waleed is a grandson of Abdulaziz, the first king of Saudi Arabia, and of Riad Al Solh, Lebanon's first prime minister.

<span class="mw-page-title-main">SABIC</span> Saudi chemicals company

Saudi Basic Industries Corporation, known as SABIC, is a Saudi chemical manufacturing company. 70% of SABIC's shares are owned by Saudi Aramco. It is active in petrochemicals, chemicals, industrial polymers and fertilizers. It is the second largest public company in the Middle East and Saudi Arabia as listed in Tadawul.

<span class="mw-page-title-main">Kingdom Holding Company</span> Saudi conglomerate holding company

The Kingdom Holding Company is a Saudi conglomerate holding company, based in Riyadh. The KHC is a publicly listed company on the Tadāwul. The KHC consists of a select team of experienced investment specialists directed by its founder and chairman, Prince Al-Waleed bin Talal and chief executive officer, Eng. Talal Ibrahim Al Maiman. The company describes itself as a diversified investment company, whose main interests are financial services, real estate, tourism and hospitality, media, entertainment, petrochemicals, aviation and technology.

<span class="mw-page-title-main">Mövenpick Hotels & Resorts</span> Swiss hotel management company


Mövenpick Hotels & Resorts is a Swiss hotel management company headquartered in Baar, Switzerland. It is fully owned by Accor since the September 2018 acquisition from former shareholders Mövenpick Holding (66.7%) and the Saudi-based Kingdom Group (33.3%). It operates over 80 properties, including hotels, resorts and Nile cruisers, with another 30 resorts planned or under construction across the Middle East and Asia. The hotel chain serves 5.8 million people per year.

<span class="mw-page-title-main">Herfy</span>

Herfy is a Saudi Arabian multinational fast food restaurant chain in Saudi Arabia and one of the largest in the Middle East, surpassing international chains in terms of presence. It has a total of more than 380 restaurants and 5,000 employees throughout Saudi Arabia.

The Al Muhaidib Group is an international private group of companies based in Saudi Arabia that was founded in 1946 by Abdul Kadir bin Abdul Muhsin Al-Muhaidib. The current chairman of the board of directors is Sulaiman A. K. Al-Muhaidib.

<span class="mw-page-title-main">Géant Casino</span> French hypermarket chain owned by Casino Group

Géant Casino was a hypermarket chain based in Saint-Étienne, France, part of the French retailing giant Groupe Casino. It has been replaced by Casino #hyperFrais.

Hikma Pharmaceuticals plc is a British multinational pharmaceutical company with headquarters in London, UK that manufactures non-branded generic and in-licensed pharmaceutical products. It was founded by Samih Darwazah in Amman, Jordan in 1978. It is listed on the London Stock Exchange and is a constituent of the FTSE 100 Index.

EFG Hermes Holding S.A.E. is an Egyptian financial services company present in the Middle East, North Africa, Sub-Saharan Africa, and South Asia regions and specializes in securities brokerage, asset management, investment banking, private equity and research in addition to finance lease, factoring, microfinance, Financial technology, mortgage, and insurance. EFG Hermes serves a range of clients including sovereign wealth funds, endowments, corporations, financial institutions, high-net-worth clients and individual customers. EFG Hermes is listed on the Egyptian Exchange (EGX) and London (LSE) stock exchanges. EFG Hermes has offices in Egypt, the United Arab Emirates (UAE), the Kingdom of Saudi Arabia (KSA), Pakistan, Oman, Kuwait, Jordan, Kenya, Nigeria, UK, United States and Bangladesh with over 4,500 people from 25 nationalities. They serve clients from the Middle East, North Africa, Europe and the United States. Currently, EFG Holding is listed as number 13 in Forbes' Top 50 Listed Companies in Egypt 2023.

<span class="mw-page-title-main">Almarai</span> Multinational food company of Saudi Arabia

Almarai Company is a Saudi multinational dairy company which is listed on the Tadawul stock exchange. It specializes in food and beverage manufacturing and distribution. The company's main offices are located in Riyadh, Saudi Arabia.

Majid Al Futtaim Holding is an Emirati holding company based in Dubai. The family-owned conglomerate owns and operates shopping malls, retail, and hotel establishments in the Middle East and North Africa.

<span class="mw-page-title-main">LuLu Group International</span> Emirati multinational conglomerate

LuLu Group International is an Emirati-based multinational conglomerate company that operates a chain of hypermarkets and retail companies, headquartered in Abu Dhabi, United Arab Emirates. It was founded in 2000 by M. A. Yusuff Ali from Nattika in Kerala, India. The Group mainly operates "Lulu Hypermarket", a chain of hypermarkets that ranks among the top grocers in many of the markets it operates in. LuLu has over 65,000 employees of various nationalities.

<span class="mw-page-title-main">M. A. Yusuff Ali</span> Indian businessman (born 1955)

Yusuff Ali Musaliam Veettil Abdul Kader, popularly known as M. A. Yusuff Ali, is an Indian businessman and billionaire. He is the chairman and managing director of LuLu Group International, which owns the LuLu Hypermarket chain worldwide and LuLu International Shopping Mall. With an annual turnover of US$8.4 billion, LuLu Group International employs the largest number of Indian diaspora|. According to Forbes Middle East, Yusuff Ali was ranked No. 1 in Top 100 Indian business owners in the Arab World 2018. As per Forbes billionaires list published in October 2023, he was ranked 27th richest Indian with net worth of US$6.9 billion.

<span class="mw-page-title-main">Panda Retail Company</span> Saudi Arabian grocery retailing company

Panda Retail Company is a Saudi Arabian grocery retailing company. Panda is one of The Savola Group's subsidiaries. The Savola Group is ranked ninth amongst the top 100 companies in the Saudi Arabian market and ranked second amongst the industrial sector after SABIC. The Savola Group has recently listed its Oils and Fats division in the Saudi Stock market under the name Afia International.

<span class="mw-page-title-main">Petromin Corporation</span> Saudi Arabian lubricants and automotive services company

The Petromin Corporation is a Saudi Arabian lubricants and automotive services company, operating in lubricant oils including manufacturer, industrial, and automotive oils and lubricants, car servicing, fuel retailing and car dealerships. The company is one of the "Major Leading Players" of the lubricating grease Industry.

<span class="mw-page-title-main">Nasser Al Tayyar</span>

Nasser Al Tayyar Is a Saudi businessman. He is the Founder and Deputy Chairman of Al Tayyar Travel Group. He has interests in many industries, including Leisure, Tourism, Education, Transport, Real Estate, Retail Trading, Hospitality, Aviation and Food and Beverages.

Hasan Abdullah Ismaik is a Jordanian businessman and Chairman of Hasan Abdullah Mohammed Group, a UAE-based group of investment companies founded by Ismaik in 2006. He owns Marya Development & Real Estate Investment LLC, a private investment company in the United Arab Emirates with a diversified investment portfolio that includes projects worth US$4 billion. He is the Chairman of Al-Ashmal Real-Estate Investment Co. in Jordan; and Chairman of publicly listed Masaken for Land and Industrial Development Projects. In 2014, Forbes Magazine listed Ismaik as the first Jordanian billionaire and the third-youngest billionaire in the Middle East.

<span class="mw-page-title-main">Abdullah Al-Othaim Markets</span> Saudi Arabian company

Abdullah Al-Othaim Markets Company is a Saudi Arabia–based joint stock company, currently operating in Saudi Arabia and Egypt. Its main activities are food wholesaling, grocery stores, and malls. As of 2017 the company operated 183 stores – 143 supermarkets and hypermarkets, 27 convenience stores, and 13 wholesale outlets in Saudi Arabia, and 31 stores in Egypt.

<span class="mw-page-title-main">Fine Hygienic Holding</span>

Fine Hygienic Holding, is a wellness company with dual headquarters in Amman, Jordan and Dubai, UAE, founded in 1958 by Elia Nuqul. Its current CEO is James Michael Lafferty. FHH mainly specializes in the production of wellness and hygienic products, including sterilized facial tissues, kitchen towels and toilet paper, baby and adult diapers, as well as natural, healthy beverages after obtaining a majority stake in the Arabian natural food and beverage brand, Nai Arabia Food Co, and a recent addition of personal protective equipment (PPE), germ protection solutions and nutrition supplements. FHH employs over 3,000 people of more than 30 different nationalities, operating in Jordan, Egypt, Saudi Arabia, the UAE, and serves over 80 markets across the Middle East, Africa, Europe, Asia, and the United States.

<span class="mw-page-title-main">Investment Corporation of Dubai</span> Sovereign wealth fund from the United Arab Emirates

Investment Corporation of Dubai is the principal investment arm of the Government of Dubai focused on strengthening Dubai’s economy through long-term value and wealth creation and investing in global opportunities. Established in 2006, ICD manages the Government of Dubai Portfolio of commercial companies and investments. In 2022, ICD reported assets worth $320 billion and revenue of $73 billion. The Dubai-based corporation provides strategic oversight, develops and implements investment strategies and corporate governance policies, and operates in multiple sectors, including oil and gas, transportation, banking, and financial services.

References

  1. 1 2 3 4 5 6 7 "Leadership Team".
  2. "Highlights".
  3. Savola Group Eye of Riyad
  4. 1 2 Saudi Billionaires Found Holding Surging Savola Stock. Bloomberg.
  5. Khan, Riz (2005). Alwaleed, Businessman Billionaire Prince . New York: HarperCollins. p.  68. ISBN   9780060850302.
  6. UPDATE 3-Saudi Savola expands retail chain with Geant buy. Reuters.
  7. UPDATE 1-Saudi's Savola buys two Egyptian companies. Reuters.
  8. Savola gets approval for acquisition of Al Kabeer Group. Argaam.
  9. "Saudi Arabia's Savola acquires Egybelg amid plans to invest $91m in Egypt". arabnews.com. Retrieved 9 June 2022.