Savola Group Company

The Saudi-based Savola Group Company is a multiline conglomerate with subsidiaries operating in edible oils, sugar, retail, fresh dairy products, real estate and plastics. Savola was established in 1979 with 50 employees and has grown to employ over 17,000 as of 2010.

Savola entered the retail business in 1998, through its subsidiary, Al Aziza Panda United CompanyAl Aziza Panda United Company, which operates the HyperPanda chain of 114 supermarkets and hypermarkets throughout Saudi Arabia, as of 2009. Savola Group established its first hypermarket outside of Saudi Arabia, in 2006. Located in the Dubai Festival City, the store spans an area of 16,250 sq m (175,000 sq. ft.).

The edible oil and fats division is one of Savola's main operations, led by the Group flagship, Afia International CompanyAfia International Company. Launched in Saudi Arabia, in 1979, Afia expanded into Egypt in 1992, before it merged with Malaysia's Sime Derby, in 1996. The company expanded into Morocco and Sudan in 2003 and 2004, consecutively, and added a plant each in Algeria and Turkey, in 2007. The company plans to increase its annual production of edible oils, in Saudi Arabia, from 300,000 tons to 400,000 tons, by the close of 2009.

The group established the United Sugar CompanyUnited Sugar Company in 1998, one of the largest producers of sugar in Saudi Arabia, in addition to the United Sugar Company of EgyptUnited Sugar Company of Egypt, which it had established in 1994.

Savola’s real estate arm includes the Saudi-based Kinan International for Real Estate Development CompanyKinan International for Real Estate Development Company, which began as a division of Savola Group before it was established in 2004, as a subsidiary. Savola and Kinan joined the Saudi Binladin Group in a joint-venture in April 2009, to develop a SAR2.4 billion (USD640 million) middle-income residential project in northern Jeddah.