Based: Jeddah, Saudi Arabia
Awards & Medals
2012 - Standard and Poor’s No. 1 for Corporate Governance and Transparency in Saudi Arabia
2011 - King Abdul Aziz Prize for Quality
2008 – Best Saudi Work Environment
2008 – The Saudi Public Company Award in CSR
KHC has a significant shareholding in Savola Group, a fast-growing food conglomerate providing the Middle East, North Africa and Central Asia with fast food, dairy, edible oils and sugar.
KHC’s current interest in Savola is the result of a series of private equity investments in related businesses, which were ultimately combined into Savola. Initially, this took the form of an investment in Panda, an established but distressed supermarket chain acquired, restructured and returned to profit by KHC. Recognizing the potential synergy between Panda and Al-Azizia’s supermarket interests, a merger was completed to create the region’s largest food retailer. In 1998, this combined business was merged into Savola, with an interest in the Herfy fast food chain subsequently being acquired.
KHC believes that Savola is extremely well positioned to capitalize on the expected continuation of Middle Eastern growth, which it believes will see increased spending on food products in the coming years.
The Savola Group is a Saudi public listed company and one of the largest diversified conglomerates in the Middle East, North Africa and Central Asia region – otherwise known as the MENACA region.
The company was established in 1979 with an initial SR 40m capital and grew significantly in subsequent years to SR 5bn. It is now one of the most successful and fastest growing multinational food groups in the MENACA region with a wide portfolio of businesses including three core sectors: foods, comprised of edible oils, sugar, and noodles/pasta; retail; and plastics. Savola Group also has significant investments in leading publicly-listed Saudi companies, investment funds and real-estate businesses. Savola has major investments in Al Marai Dairy Company (30%), Herfy Foods Company (49%), Kinan Real Estate Co. (23%), and Jordanian Tameer Company (5%).
Savola currently has market shares of 62% of the edible oils market and 68% of the sugar market in the Kingdom, and operates 166 retail outlets (supermarkets or hypermarkets).