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Savola Group (2050) – Introduction and background |
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Savola Group is a major Saudi conglomerate in the food and retail sectors.
Founded in 1979 and headquartered in Jeddah, Savola Group is a diversified conglomerate in the food and retail sectors. The company’s foods division produces food products such as seed oils, sugar, and pasta, with popular brands including cooking oils Afia and Al Arabi. In the retail sector, Savola manages Panda Retail Company, one of Saudi Arabia’s largest grocery store chains. Savola Foods is responsible for around 60% of revenue, with Panda making up most of the rest. GCC countries make up the lion’s share of revenue, followed by Egypt and Central Asian markets.
Savola Group is publicly listed on Tadawul under the ticker 2050. The largest shareholder is Mohammed Ibrahim Mohammed Al-Eissa, followed by other prominent Saudi businessmen and partnerships.
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