{{Short description|Saudi Arabian industrial company}} {{Infobox company | name = Savola Group<br /><big>مجموعة صافولا</big> | logo = | caption = | type = Public | genre = | fate = | predecessor = | successor = | foundation = {{start date and age|January 10, 1979}} | founder = | defunct = | location_city = Jeddah | location_country = Saudi Arabia | locations = | area_served = | key_people = {{ubl|Sameh Mahmoud Hassan (CEO)<ref name=leadership-team>{{cite web | url=https://www.savola.com/en/about-us/savola/leadership-team | title=Leadership Team }}</ref>|Sulaiman Al-Muhaidib (chairman)<ref name=leadership-team/>|Bader Abdullah Alissa (vice chairman)<ref name=leadership-team/>|Wajid Usman Khan (CFO)<ref name=leadership-team/> |Morhaf Mohammad Alsamman (CHRO)<ref name=leadership-team/> |Mohammad Nasr (CIO)<ref name=leadership-team/> |Elnour Ali Saad (Chief Corporate Governance and Legal Affairs officer, and Group Board Secretary)<ref name=leadership-team/>}} | industry = | products = | services = | revenue = SAR 24.669 billion (2021)<ref>{{cite web | url=https://www.savola.com/en/about-us/savola/highlights | title=Highlights }}</ref> | operating_income = | net_income = | aum = | assets = | equity = | owner = | num_employees = around 32,000 (2016) | parent = | divisions = | subsid = Panda Retail Company & Savola Foods Company | homepage = | footnotes = | intl = }}
The '''Savola Group''' ({{langx|ar|مجموعة صافولا}}) 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.
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|date=August 2017}}
It was founded in 1979<ref>{{Cite web |title=Savola Group |url=https://www.eyeofriyadh.com/directory/details/2202_savola-group |access-date=2024-07-10 |website=eyeofriyadh.com |language=en-US}}</ref> as Saudi Vegetable Oils and Ghee Co., initially the company's business was importing and refining edible oil.<ref name="bloomberg">{{Cite news |date=2014-10-30 |title=Saudi Billionaires Found Holding Surging Savola Stock |url=https://www.bloomberg.com/news/articles/2014-10-30/saudi-billionaires-revealed-holding-surging-savola-stock |access-date=2024-07-10 |work=Bloomberg.com |language=en}}</ref>
Savola is the kingdom's biggest food company by revenue.<ref name="bloomberg" />
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."<ref name="Khan">{{cite book |last1=Khan |first1=Riz |title=Alwaleed, Businessman Billionaire Prince |date=2005 |publisher=HarperCollins |location=New York |isbn=9780060850302 |page=[https://archive.org/details/alwaleed00rizk_0/page/68 68] |url-access=registration |url=https://archive.org/details/alwaleed00rizk_0/page/68 }}</ref>
==Acquisitions==
In 2009, Savola signed a deal with Alhokair Group to buy Geant supermarket outlets in Saudi Arabia.<ref>[https://uk.reuters.com/article/idUKLP51334220090725 UPDATE 3-Saudi Savola expands retail chain with Geant buy]{{dead link|date=September 2024|bot=medic}}{{cbignore|bot=medic}}. Reuters.</ref>
In October 2011, Savola bought 78% of Egypt's Al-Malika and Al-Farasha companies.<ref>[https://www.reuters.com/article/savola-acquisition-egypt/update-1-saudis-savola-buys-two-egyptian-companies-idUSL5E7LI0OY20111018 UPDATE 1-Saudi's Savola buys two Egyptian companies]. Reuters.</ref>
In 2018, Savola acquired 51 percent stake of Dubai-based Al Kabeer Group.<ref>[https://www.argaam.com/en/article/articledetail/id/585846 Savola gets approval for acquisition of Al Kabeer Group]. Argaam.</ref>
In 2022, Savola acquired Egybelg.<ref>{{Cite web |url=https://www.arabnews.com/node/2100351/business-economy |access-date=9 June 2022 |title=Saudi Arabia's Savola acquires Egybelg amid plans to invest $91m in Egypt |website=arabnews.com}}</ref>
==References== {{Reflist}}
==External links== * [http://www.savola.com/en Savola Group]
{{DEFAULTSORT:Savola Group}} Category:Companies based in Jeddah Category:Food and drink companies of Saudi Arabia Category:Saudi Arabian brands
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