Established in 1979, Savola Group operates in food and retail. It’s retail chain Panda has 187 retail outlets, 182 in Saudi Arabia and five in Egypt. The company has a presence in nearly 50 countries. Savola owns 34.52% of Almarai, 49% of Herfy Foods Services Co., and 29.99% of Kinan International for Real Estate Development Co. In 2022, it sold its stakes in Knowledge Economic City Company and Knowledge Economic City Developers Company Limited to Taiba Investment Company for $122.4 million.