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, Iran, Morocco, Turkey, Sudan, and Kazakhstan.
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.
MESSAGE FROM THE CEO
Whether you are an investor, a consumer, an employee, or an interested reader, I would like to take this opportunity to personally welcome you to the Savola website. We trust that it will be informative regarding our various activities for the Group in the MENAT (Middle East, North Africa and Turkey) Region. As you read on, you will gain insight into our investments in the food and retail sectors, our vision for the future, and the reason why our brand purpose is ‘Value Built on Values’.
Savola was founded in 1979 and throughout the past four decades we have expanded and grown our business portfolio. Savola foods’ main products are edible oil, sugar, pasta, and ghee. These products are distributed in over 30 countries. Savola Retail manages large number of Panda grocery stores. Additionally, we invest in other companies to generate additional value for our stakeholders.
Eng. Anees Ahmed Moumina
Feel free to contact us any time!