Savola was founded in 1979 in the Kingdom of Saudi Arabia with share capital of SAR 40 million and 200 employees. Back then, we were a small-scale company importing and refining vegetable oil for sale on our local market. Like any successful business, however, we had a clear vision for the future: to become the leading strategic investment group for our region and generate profits for our shareholders and investors.

In the decades that followed, dedication led to growth, followed by diversification and expansion. We initially faced fierce competition from established international players, yet were able to carve out a niche for ourselves by listening carefully to our customers’ needs and preferences. We also conducted in-depth research into the commodities market to minimize costs and maximize margins. 1994 saw us enter the sugar market by investing in our first refinery, located in Jeddah. At the time, annual production capacity was 500,000 tons per year. We also expanded our foods sector operations to Egypt, Algeria, the Levant, Central Asia and Sudan. 

A few years later, in 1998, we made another bold addition to our portfolio by entering the retail sector through the acquisition of the Azizia Panda United group of stores. Already an established brand, we were able to enhance Panda’s positioning and benefit from its real estate holdings. Meanwhile, we also acquired minority stakes in related companies including Almarai, Herfy and Kinan, and made strategic investments in non-core sectors.

Today, after almost four decades since Savola was founded, we let our results speak for themselves but we believe that it takes more than profit margins to win over investors. Our commitment to ethical principles, summarized by our brand purpose, “Value Built on Values,” means shareholders know they are dealing with a partner they can trust. We are convinced that these guiding principles are the firm foundations on which we will build the successes of tomorrow.


Our History

  • 1979

    Savola was founded

  • 1994

    Savola entered the sugar sector

  • 1998

    Savola merged with Al-azizia panda united

  • 2012

    Established beet sugar plant in Eygpt

    Savola’s retail presence reached 181 stores

  • 2013

    First sukuks were issued

  • 2013

    Capital increased from SAR 5 billion to SAR 5.34 billion

  • 2015

    Retail outlets increased by 44%

  • 2016

    Savola revenues reached SAR 25.3 billion

  • 2017

    Savola revenues reached SAR 23.8 billion

  • 2018

    Savola group purchased a controlling stake in Al Kabeer (51%)

  • 2019

    Savola celebrated 40 years of operations

    Savola celebrated 40 years of operationsthrough various internal and external activities.

  • 2019

    Savola is listed on the MSCI (Morgan Stanley Capital International), inclusion into the MSCI Emerging Market Index

    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.

  • 2019

    Savola issued Sukuks for the 2nd time, by the amount of SAR 1 billion.

    Savola issued Sukuks for the 2nd time pursuant to a new program in an aggregate amount of SAR 1 billion.

  • 2019

    Savola ranked 4th in the Standard & Poor's and Dow Jones, and the Governance Institute in governance and transparency.

    Standard & Poor’s, the Hawkamah Institute and the International Finance Corporation ranked Savola 4th in governance and transparency.

  • 2020

    Savola named among Top 20 Great Places to Work in. the Kingdom of Saudi Arabia.

  • 2020

    Savola ranked top 1- among all non-financial sector companies traded on Tadawul in the Corporate Governance Index (CGI) by Al Faisal University's Corporate Governance Center.

  • 2020

    Savola was among the 'Top 100 companies in the Middle East' for 2020 according to Forbes Middle East, ranked 14th in the Kingdom of Saudi Arabic. and 39th in the Middle East.

  • 2021

    Savola Acquired Bayara Holding Limited

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