39. Almarai

Country: Saudi Arabia
Sector: Food & Beverages
CEO: Abdullah Albader
Market Value: $15 billion
Sales: $5.2 billion
Profits: $547 million
Assets: $9.7 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. The company operates in Saudi Arabia, the U.A.E., Egypt, Jordan, the U.S., and Argentina, among other countries. It delivers its products to over 100,000 customers daily. In July 2023, Almarai issued a $750 million USD-denominated Sukuk as part of its $2 billion Trust Certificate Issuance Program. In December 2023, it acquired Etmam Logistics for $48.5 million.