Savola Group

Savola Group is a Saudi joint stock company listed on the Saudi Stock Exchange 'Saudi Tadawul'. It was founded in 1979, starting as a small company with a capital of SAR40 million and around two hundred employees. It imported and refined vegetable oils before selling them in the local market. It later became a leading group in the food and retail sectors in the Middle East and North Africa region.

It was listed on the Saudi Tadawul' on December 1, 1991, and its shares are traded on the main market within the Food Production sector, under the name (Savola Group), symbol (2050), and International Securities Identification Number (ISIN) (SA0007879162). The company's capital is SAR5.34 billion.

In 1994, Savola Group invested in a sugar refinery in Jeddah City, with an initial production capacity of five hundred thousand t per year. The company focused on expanding its food sector operations to include Egypt, Algeria, the Levant, Iran, and Sudan.

In 1998, the company took over al-Azizia Panda United chain of stores. At the same time, it purchased shares in companies operating in related sectors, such as Almarai, Herfy, and Kinan, and entered into strategic investments outside its core business sector.

In 2018, Savola Group took over the majority share (51 percent) in al-Kabeer Group, and in 2021, it acquired Bayara Holding Limited.

Savola Group owns a large retail chain (supermarkets and hypermarkets) known as Panda stores. The group has several investment activities in existing companies, most notably owning 34.52 percent of Almarai Company, 49 percent of Herfy Food Services Company, and 29.99 percent of Kinan International Real Estate Development Company.

Savola Group owns several brands, including Afia and al-Arabi for edible oils, al-Osra for sugar, al-Maleka for pasta, al-Kabeer for frozen food, Bayara for healthy snacks manufacturing and distribution, and Panda for the retail sector.

Savola Group has several subsidiaries, including:

Savola Foods Company (100 percent ownership), established in the Kingdom and specialized in essential foods (edible oils, vegetable ghee, sugar, pasta).

Afia International Company (95.19 percent ownership), established in the Kingdom and specialized in producing and refining edible oils, operating in the Kingdom, Egypt, Iran, Turkey, and Jordan.

Savola Foods Emerging Markets Company (95.40 percent ownership), an offshore company established in the British Virgin Islands.

United Sugar Company (74.48 percent ownership), established in the Kingdom and operating in sugar production and refining.

Al-Maleka for Food Industries Company (100 percent ownership), established in Egypt and specialized in pasta.

International Foods Industries Company (100 percent ownership), established in the Kingdom and operating in the manufacturing and production of specialty fats.

Panda Retail Company (100% ownership), established in the Kingdom and operating in the Kingdom and Egypt.

Good Food Company (100% ownership), a holding company operating in the Kingdom and some Gulf Cooperation Council (GCC) countries.