We are one of the leading strategic investment holding
Groups in the food and retail sectors across the MENAT Region.
Our food vertical includes investments in large branded categories across the MENAT region.
Panda Retail is the largest modern grocery chain in Saudi Arabia with 205 stores serving more than 106 million customers annually.
A Year of Resilience and Recovery
Sulaiman A. Al Muhaidib
Group Board ChairmanRead More
Chairman of the Board; Non-Executive
Current positions: Chairman of the Board, Abdulkader Al Muhaidib & Sons Co., Board member of many companies that are Almarai Co., Rafal Real Estate Co, Amwal AlKhaleej Commercial Investment Co., Al Muhaidib Holding Co.
Previous positions: Chairman of the Board, Middle East Paper Co. (MEPCO), Chairman of the Board Al Oula for Real Estate Development Co., Thabat Construction Co.
Qualifications: Second Class, Faculty of Medicines, King Saud University, Saudi Arabia.
Experience: Business, industrial and banking management, as well as investment management and real estate development and contracting. He also sits on a number of other Boards and Committees.
Group CEO’s Message
Anees Ahmed Moumina
Group Chief Executive OfficerRead More
Vice Chairman of the Board; Non-Executive
Current positions: CEO, Assila Investment and Chairman of Savola Foods Company as well as his Board memberships in several Savola Group Companies.
Previous positions: CFO, Assila Investment.; CEO, Amias Holding; Investment Portfolio Manager, HSBC Saudi Arabia Limited; Financial & Marketing Analyst, SABIC America; Financial Analyst, JP Morgan.
Qualifications: Master of Business Administration, Rice University, USA; Bachelor of Economics, University of Virginia, USA; Certified Financial Analyst (CFA).
Experience: Financial and administrative fields, portfolio management, studying and analyzing of listed companies. In addition, he also sits on a number of other Boards & Committees of listed and private companies.
A Rebuilding Model that
aims for Sustainable Growth
As a strategic shareholder focused on the consumer, we aim to manage, build and buy into businesses that maximize our share of the consumer wallet.Read More
Confident Humility; Having the confidence to perform our responsibilities while having the humility to minimize our ego.
Relentless pursuit of perfection; The ability, willingness desire and intention to do our best to ensure that work is completed to the best standards.
Fierce Resolve; Apply what we learn to improve ourselves.
Apprenticeship; To seek out, interact with, and learn from those who are more knowledgeable than us.
Trusting; Trusting others intentions without doubting it.
Acceptance; Endure the views of others by going beyond tolerance or acceptance.
Approaching; Improve what we do by using what we have learned from the interaction with others.
Caring; Provide support to our colleagues to help enable their success.
Honesty; Is the fulfillment of our responsibilities towards investors.
Conscientiousness; Fulfillment of our responsibility toward external parties.
Caring Justice; Fulfillments to our responsibility toward our colleagues and the employee of the company.
Personal control; Achieving the personal discipline necessary to fulfill our responsibilities.
Click on green dots to see our journey
Savola is established, with a paid-up capital of SAR 40 million and 50 employees.
Savola’s edible oil refinery in Jeddah begins operations, the first in Saudi Arabia.
Launch of Afia premium corn oil. By the late 1980s, Savola captures 70% of the Saudi edible oil market.
Acquisition of a 40% shareholding in Almarai (diluted after IPO in 2005). Savola’s stake then increases to 36.5% in 2013 (then Savola sold 2% during 2017, the current stake in Almarai is 34.52%)
Savola acquires Saudi Carton Factory to establish Savola Packaging Systems (divested in 2015)
Savola becomes a publicly listed company on the Saudi Stock Exchange
Savola Bahrain and Savola Egypt commence edible oil operations
Savola Snack Foods is established to acquire 100% of Tasali Company (divested in 2001)
Joint venture with Tate & Lyle to establish United Sugar Company, Saudi Arabia’s first sugar refinery
Acquisition of 41% of Saudi Glass Company, increased to 60% the following year (divested in 2004)
Savola Packaging Systems acquires the Paper Cups and Container Company (divested in 2003)
Afia International Egypt is formed through the merger of Savola Egypt and SIME Derby Egypt
Savola acquires 50% of the merged operation. In 2009, Savola Foods’ stake increases to 99%
Savola Foods establishes an edible oil factory in Egypt
Savola enters the retail sector following its merger with Azizia Panda
Savola gains a 70% stake in Herfy through the Panda merger. Herfy was listed on the Saudi Stock Exchange, with Savola retaining a 49% stake (2010)
Through the Panda merger, Savola inherits stakes in Al-Mawashi (divested in 2000), Deemah (divested in 2001) and Al-Azizia Commercial Investment Company (divested 2009)
Savola Foods establishes edible oil businesses in Morocco and Sudan.
Panda launches the Hyper Panda format and expands abroad with the opening of a Hyper Panda store in Dubai (divested in 2017)
Savola achieves its “Triple 5” strategic goal 12 months ahead of target: SAR 5bn sales, SAR 500m profit within 5 years
New corporate governance standards are adopted, not only for legal compliance but as an ethical commitment aligned to Savola’s corporate values
Savola Foods enters Central Asia market by acquiring 49% of an edible oil business. Savola’s stake is increased to 80% in 2004 and 90% in 2014
Savola Foods acquires 90% of an edible oil business in Kazakhstan (divested in 2014)
Savola establishes Kinan Real Estate, subsequently divesting 70% through private placement
Al Batool Franchising is formed to focus on emergent retail concepts: Mugg & Bean, Bonia, Carlo Rino, Jacqueline, Tom Tailor, Yves Rocher (divested in 2011)
Savola invests in King Abdullah Economic City (KAEC) and Knowledge Economic City as a founding shareholder
Savola Packaging Systems acquires New Marina Plastics in Egypt and Alsharq Plastics Industries in Saudi Arabia (divested in 2015)
Savola Foods acquires Yudum, an edible oil business in Turkey
Savola Foods’ cane sugar refinery in Egypt begins commercial operation and establishes an edible oil refinery in Algeria
Panda acquires Géant Stores and opens its first central distribution center in Riyadh
Panda acquires United Company for Central Markets in Lebanon (divested in 2013). Panda acquires Géant Stores operations and expands its network to 152 locations
Savola Group launches its first CSR program ‘Makeen’ to train and to empower people with disability
Standard & Poor’s, the Hawkamah Institute and the International Finance Corporation rank Savola 2nd for governance and transparency
Savola Foods enters the pasta market by acquiring El Maleka Company and El Farasha Company in Egypt
Savola Foods establishes Tolue Pakshe Aftab, a distribution company for its products in Central Asia
Savola’s first Sukuk issuance (SAR 1.5 billion)
Savola acquires Al-Muhaidib’s shares in Panda (18.6%) and Savola Foods (10%) in exchange for the issue of 33.9 million new Savola shares through a capital increase to SAR 5.34 billion
Panda launches the Pandati convenience store concept (closed in 2018)
Alexandria Sugar Company begins production of sugar from beet and establishes an agro-cultivation company
Acquisition of 90% of Notrika, manufacturing Pech Pech confectionery products in Central Asia
Joint venture with global seafood leader, Thai Union, to launch the famous John West brand in 12 markets across MENAT region
Savola Foods launches Afia Distribution Company in Saudi Arabia
Panda opens its second central distribution center in KAEC
Savola unveils a new brand identity, symbolizing its evolution toward becoming a strategic investment holding company
Savola receives the Sa’afa Award from the Integrity and Transparency Foundation
Savola Group sells a 2% stake in Almarai, as a part of its capital re-allocation, whilst remaining the largest shareholder with a 34.52% stake
Savola ranks top 10 for Transparency in corporate governance, environment and social practices in MENA (S&P and Dow Jones indices and Hawkamah Institute, Dubai)
Savola Group launches its second CSR program ‘Negaderha’
Commissions a new factory in Jeddah to manufacture specialty fats for the B2B market
Establishes a joint venture in Iraq with Aves to create Bonus Food Company LLC, which is engaged in the refining and packaging of edible oils and vegetable ghee
In line with the strategy to refocus on core markets, Panda Retail sells its UAE hypermarket for a total amount of AED 80 million
Savola issued Sukuks for the 2nd time pursuant to a new program in an aggregate amount of SAR 1 billion
Savola celebrated 40 years of operations through various internal and external activities
Savola was announced among the 31 companies added to MSCI (Morgan Stanley Capital International), as part of Saudi Stock Exchange (Tadawul) inclusion into the MSCI Emerging Market Index
Standard & Poor’s, the Hawkamah Institute and the International Finance Corporation ranked Savola 4th in governance and transparency
Savola Group builds world-class brands in food and retail. The Group’s brands are market leaders
which enjoy strong brand equity and consumer wallet share.
Food security and trust
Savola Foods is a leading producer of high-quality products including edible oils, vegetable ghee, sugar, pasta, seafood and baked goods.
2019 was a dynamic year in Savola Foods’ journey, with a strategy to improve performance.Read More
Edible oil sales volume by country (including exports)
Sugar sales volume by country (including exports)
Pasta sales (including exports)
Edible oil is a leading business line for Savola Foods, and in 2019 continued its robust performance.
The Savola Group has invested in retail brands that consumers trust. In 2019, the Group’s portfolio of brands performed strongly to reclaim sales while setting the stage for future growth.
Panda Retail is the Middle East’s largest grocery retailer, with over 106+ million sales transactions through a chain of hypermarkets and supermarkets across the Kingdom.
The exceptional people working across all levels of the Group, and its subsidiaries, are crucial to Savola Group’s long-term success and ethos of sustainable growth.
Savola Group recognises its role in an interconnected world where corporate actions impact commercial performance,
the well-being of the community, and the health of the environment.