38. Almarai

Country: Saudi Arabia
Sector: Food & Beverages
CEO: Abdullah Albader
Market Value: $15.7 billion
Sales: $5 billion
Profits: $474 million
Assets: $8.6 billion

Almarai is one of the world’s largest vertically-integrated dairy companies and one of the region’s largest food and beverage manufacturing and distribution companies. It operates in many countries, including Egypt, Jordan, the U.S., Argentina, and other GCC countries. In February 2023, Almarai’s subsidiary, Almarai Investment Holding, acquired PepsiCo’s 48% stake in International Dairy and Juice Limited (IDJ) to increase Almarai’s shareholding from 52% to 100% for $68 million. In November 2022, the company announced an investment of $1.2 billion in Saudi Arabia to expand poultry production. Saudi Arabia is the major contributor of sales for the group, followed by the U.A.E. and Egypt.