Savola Group acquires Bayara Holding for $260 million

October 25, 2021 | By RetailME Bureau

Savola Group, a strategic investment holding company with focus on the food and retail sectors has announced the completion of the acquisition of Bayara Holding Limited (“Bayara”) by Savola Foods Company (“Savola Foods”), a wholly owned subsidiary of Savola Group.

With nearly three decades of operations, Bayara is a leading packaged foods company based in the United Arab Emirates (“UAE”) offering a wide range of nuts, spices, dried fruits, pulses and snacks with a distribution network spanning across Saudi Arabia, the UAE and more than thirty other countries across the Middle East and Africa.

Savola Foods acquired 100% of Bayara for USD 260 million in cash (approximately SAR 975 million). The acquisition is pivotal to Savola’s growth strategy focused on expansion into high growth, value-added food categories with propositions directed towards younger population.

Bayara brings well-established sourcing and go-to-market capabilities together with strong potential for synergies with Savola Foods. Its business is driven by the prevailing trend towards achieving a healthy lifestyle and a growing younger population.

Bayara recorded net sales of approximately SAR 420 million for the twelve-month period ending in March 2021 with a healthy mid-teens EBITDA margin.

 “the acquisition of Bayara represents a strategic addition to Savola Group, and a demonstration of our commitment to continue growing Savola’s portfolio with future focused businesses. It reinforces our overarching focus on growth and delivering long-term value creation for our shareholders,” said Waleed Fatani, Savola Group CEO.

“the acquisition of Bayara comes within the strategy framework of Savola Foods, which aims to diversify our business through focused expansions, primarily benefiting from the increased spending on healthy food trends. We are seeking to introduce and drive this new business under Savola Foods through regional expansion while strengthening and consolidating our base in the UAE,”  said Sameh Hassan, CEO of Savola Foods.

“We are excited that Bayara will be joining the Savola Foods team. Bayara has achieved remarkable success over the past thirty years, and we look forward to building on this strong foundation to continue this momentum through this next stage” said Jean Marc Lourau, CEO of Bayara.

Eversheds Sutherland acted as legal advisor to Savola Foods and EY was retained for financial advisory and finance & tax diligence. Freshfields Bruckhaus Deringer acted as legal advisor to Levant Capital and Spicemen.



Previous Article Next Article


UAE gears up to celebrate this year’s National Day celebrations in the 

Continue Reading

November 28, 2021 | By Zubina Ahmed

UAE-based Etisalat Group has signed an agreement with elGrocer, a leading online 

Continue Reading

November 18, 2021 | By RetailME Bureau announced that the 11.11 sale is back once again this year 

Continue Reading

November 8, 2021 | By RetailME Bureau

Abu Dhabi Cooperative Society’s COOP City store is now open in Lake 

Continue Reading

November 3, 2021 | By RetailME Bureau

Union Coop, a consumer cooperative in the UAE, revealed that 78% of 

Continue Reading

August 24, 2021 | By Jibran Chouguley

Union Coop has opened its 23rd branch within the UAE in Jumeirah 

Continue Reading

August 2, 2021 | By Jibran Chouguley

Nando’s has revealed their revamped Sheikh Zayed Road outlet where newcomers and 

Continue Reading

July 8, 2021 | By Jibran Chouguley

UAE-based Al Maya Group announced that it will be boosting import of 

Continue Reading

June 24, 2021 | By RetailME Bureau

UAE-based grocery retail chain, Grandiose has opened its first hypermarket in Abu 

Continue Reading

June 2, 2021 | By RetailME Bureau

UAE-based Carrefour announced its theme and plans for Ramadan 2021. The brand 

Continue Reading

March 31, 2021 | By RetailME Bureau

Locally owned supermarket Spinneys celebrates 60 years of doing business in the 

Continue Reading

March 9, 2021 | By RetailME Bureau
Almarai, Carrefour, Emirates have the most loyal customers

UAE-based Carrefour will become the first retailer in the region to offer new levels 

Continue Reading

February 22, 2021 | By RetailME Bureau

Download Images RetailME Magazine