The Savola Group acquires a leading edible oils company in Iran

This shareholding percentage has given The Savola Group the right to manage the new entity.

This investment is considered one of the largest expansions undertaken by The Savola Group in the edible oils sector. This investment will also help The Group double its annual production capacity in the edible oils sector.

The Behshahr Industrial Company is a market leader in the Republic of Iran which has 37% share in the edible oils market, with annual sales of SR 1.1 billion. The Iranian annual consumption of edible oils is approximately 1.2 Million Tons.

Furthermore, The Savola Group has announced that it has already started managing Behshahr Industrial Edible Oils Company, which has been re-named "Savola Behshahr Company".

Based in Jeddah, The Savola Group was established in 1979 and is a joint stock company with a paid-up share capital of SAR 800,000,000. Its shares are traded on the Saudi Stock Exchange.

The Group consists of Savola Edible Oils (SEO) Division, United Sugar Company (USC) that is a joint venture with Tate & Lyle, the Panda Supermarket chain with 46 branches throughout the Kingdom, Savola Packaging System Company (SPS), and Herfy which is the Group's fast food company. Al Marai, another company in The Savola Group, is managed independently from The Group. In addition, The Savola Group owns 51% of Saudi Arabian Glass Company (SAGCO).