Savola : Saudi Arabia demonstrating its business and investments in Egypt

In light of HRH Prince Mohammed bin Salman, the Crown Prince's visit to Egypt, and as an

extension of the economic and trade history between the two countries

The Saudi Savola Group displays its business and investments in the Arab Republic of Egypt, whose assets value exceeded 6 billion Egyptian pounds and with total operating investments exceeding 25 billion Egyptian pounds

Saudi Arabia - June 21, 2022: Within the framework of the visit of His Royal Highness Prince Mohammed bin Salman, Crown Prince to the Arab Republic of Egypt on June 20, 2022, and to stress the strength of the economic and trade relations between the two countries. Savola Group (a Saudi public joint stock company), a leading strategic investment holding company in the Middle East and North Africa's food and retail sectors, demonstrated its business and investment history in the Arab Republic of Egypt, and the value of its assets exceeds 6 billion pounds. With total operating investments of more than 25 billion Egyptian pounds, Savola Group has started its investment journey in Egypt and expanded it since the early nineties, which makes Savola Group one of the largest regional investors in the Arab Republic of Egypt leading by example to enhance the partnership between the private sectors in the two countries.

It is worth noting that Savola currently owns and operates multiple companies, markets, and factories in the food industry such as edible oils, vegetable ghee, sugar, pasta, baked goods, frozen foods, spices, nuts, and snacks. Savola also manages a chain of retail stores through Panda Retail Company.

The Arab Republic of Egypt is one of the region's most promising economies, which supports Savola's strategic growth plans. The plan is to expand into new food industries in one of the largest markets outside the Kingdom of Saudi Arabia. The company also seeks to expand into new food industries to serve consumers in the region, especially the younger generations, with a focus on global trends to deliver innovative, high-quality products.

Considering the expansion of its investment portfolio in the Arab Republic of Egypt, Savola Food Industries Company announced in early June 2022 the acquisition of assets worth 630 million Egyptian pounds from the Egyptian-Belgian Company for Industrial Investments. This is within the framework of Savola's expansion plans in the Egyptian market to produce new food industries such as baked snacks that include sandwich products, cakes, and croissants. This will be added to the various products that the company has provided in the Egyptian market for more than 30 years.

Savola Foods Company (one of the leading companies owned by the Saudi Savola Group), has notably succeeded thanks to its professionalism in managing a large portfolio of high-quality food brands, as well as owning a group of the most famous brands in the food commodities market in Egypt, which is trusted by the millions of customers.