Herfy Company IN FOCUS
Strategic long-term investment With a 49% holding, Savola Group is the largest shareholder in Herfy Food Services Company, one of the leading restaurant businesses in Saudi Arabia, which also operates an industrial bakery and a meat processing business. As Herfy’s largest shareholder – both pre- and post-IPO – Savola Group has de facto control of the company by virtue of its ownership. Herfy became a Savola Group subsidiary following the adoption of IFRS, after which the Group consolidated Herfy within its financial statements.
Established in 1981, Herfy Food Services Company owns and operates Saudi Arabia’s leading fast food chain, “Herfy”, with 368 branches in the Kingdom. The company also franchises restaurants in Kuwait and Bangladesh. In addition, it operates pastry shops and has established itself as one of the Kingdom’s first fully-integrated food services companies, with its own bakery, cake, rusk and meat processing factories.
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