Savola Group has been ranked No. 1 among the Top 500 companies (Food Industry sector) in 2012 across Arab world. This achievement has been awarded in a special glittering ceremony last week in Abu Dhabi organized by Forbes magazine under the aegis of Sheikh Nahyan Bin Mubarak Al Nahyan, Minister of Culture, Youth and Social Development, UAE.
During the ceremony, Forbes - Middle East revealed that the Savola Group topped the food industry with $374 million net profit. The event was attended by head of Saudi conglomerates with the participation of 11 companies followed by 6 companies from UAE as well as Egyptian and Kuwaiti companies The assets of the participating companies reach $9.05 billion.
The Savola Group has demonstrated outstanding performance, growth and results through the previous year. During the ceremony, Dr. Abdulraouf M. Mannaa — Managing Director of Savola Group, was honored for the records achieved by Savola. He remarked that “This remarkable achievement makes us proud in the Savola Group and all of its operational companies; this achievement clearly reflects all the sincere efforts made by all Savolans to maintain our entrepreneurship.”
The Savola Group is a Saudi public listed company. It operates in more than 9 countries in MENACA region (Middle East, North Africa and Central Asia); in which it has a wide portfolio of businesses including three core sectors; Foods comprises of Edible Oils, Sugar and Noodles/Pasta, through which it established flagship brands like Afia, Al Arabi, Rawabi Oils, Al-Osra, Ziada and Sweeva sugar. Savola also has the Retail sector, represented by Aziza Panda United Company (Hypermarkets & Supermarkets), which has established 146 stores across the Kingdom and finally the Plastics sector, which manufactured both rigid and flexible plastic products.
The total workforce has reached more than 18,500 employees. With regard to the investment portfolio, Savola has major investment in Al Marai Dairy Company (36.6%), Herfy Foods Company (49%), Kinan Real Estate Co. (29.9%) and it is a founding shareholder of Knowledge Economic City in Madinah. It also has controlling interests in a number of companies and other investment funds. — SG
