KHC’s current interest in Savola is the result of a series of private equity investments in related businesses that were ultimately combined into Savola. The first investment was in Panda, a well established but loss making supermarket chain acquired by Prince Alwaleed and restructured, after which the business became profitable. The Prince subsequently identified potential synergies with Al-Azizia's supermarkets and arranged a merger of the two entities to create the region's largest food retailer. In 1998, this combined business was merged into Savola, and an interest in the Herfy fast food chain was subsequently acquired.

Savola is an investment group with core subsidiaries operating in the edible oil, sugar refining, retail, packaging, dairy and fast food sectors. Savola also has investments in real estate and other sectors. In 2006, Savola generated net revenues of $9.1 billon and net income of SR 1.1 billion. As of 31 December 2006, its net assets were $6.9 billion.

KHC believes that Savola is well positioned to capitalise on the expected continued economic growth in the Middle East, which it believes will increase spending on food products.