Savola Group, a Saudi publicly listed joint stock company, has announced the execution of a share purchase agreement for the acquisition of 51 percent of the Al-Kabeer Group, a frozen food company with operations across Saudi Arabia, the UAE, Oman and Bahrain.
Anees Ahmad Moumina, Savola Group CEO, said: “We are excited about the prospects of this transaction and adding a brand such as Al-Kabeer into our portfolio of leading consumer brands in regional food and retail sectors.”
Huda Al-Lawati, chief investment officer for Savola Group, said: “The partnership is in line with Savola’s strategy to expand its investment portfolio and enter attractive, value-added categories within the overall food sector. The frozen food segment is forecast to continue growing, propelled by the increasing drive toward value and convenience.”
Savola buys 51% of frozen food player Al-Kabeer
Savola buys 51% of frozen food player Al-Kabeer
German Minister of Economy and Energy visits Juffali Industrial Business Park in KAEC
Juffali recently welcomed German Federal Minister of Economy and Energy Katherina Reiche, during an official visit to the Juffali Industrial Business Park in King Abdullah Economic City, in the presence of Khaled Juffali, chairman of Juffali, and senior executives. The visit, on Feb. 2, marks a significant milestone in strengthening Saudi–German industrial cooperation.
Covering a total land area of 400,000 square meters, the business park serves as a strategic platform for advanced manufacturing and industrial localization in the Kingdom. The visit highlighted key joint industrial projects developed in collaboration with leading global partners, reflecting a shared commitment to long-term investment, technology transfer, and local value creation.
The official program included welcoming remarks and ceremonial milestones, during which Liebherr laid the foundation stone for its factory, while Juffali Industrial Products Company and National Automobile Industry placed the cornerstone for their manufacturing facility, symbolizing the advancement of two flagship industrial projects within the business park.
The Juffali Industrial Products Company and National Automobile Industry facility will have an annual production capacity of 6,000 trucks, while Liebherr’s plant is designed to produce up to 1,000 concrete mixers annually. Both facilities will operate with 100 percent local assembly and manufacturing in Saudi Arabia, reinforcing the Kingdom’s localization agenda and supporting the development of national industrial capabilities.
These projects represent a significant addition to Saudi Arabia’s industrial ecosystem and align closely with the objectives of Saudi Vision 2030, supporting sustainable industrial growth, job creation, and high-value manufacturing.
Khaled Juffali reaffirmed Juffali’s commitment to expanding international partnerships and contributing to the Kingdom’s economic diversification through long-term industrial collaboration with leading global partners, further strengthening KAEC’s position as a regional hub for advanced manufacturing.
