Herfy
 | |
| Public | |
| Traded as | Tadawul: 6002 |
| Industry | Restaurants |
| Founded | 1981 in Riyadh, Saudi Arabia |
| Headquarters | Riyadh, Saudi Arabia |
Area served | Saudi Arabia, Bahrain, United Arab Emirates, and Kuwait |
Key people |
, founder Ibrahim Al-Hamoud, first corporate partner H.R.H. Prince Alwaleed Bin Talal Al Saud, current CEO |
| Products | Fast food, including Super Herfy, kufta, fish fillet, french fries, and milkshakes |
| Revenue | |
Number of employees | 1,800 |
| Parent |
1981-1994 Panda United 1994-1998 Azizia Panda 1998-present Savola Group |
| Website |
herfy |
Herfy (Arabic: هرفي) is a major fast food restaurant chain in Saudi Arabia and one of the largest in the Middle East, surpassing international chains in terms of presence. It has a total of more than 212 restaurants and 4,000 employees throughout Saudi Arabia. It also has many subsidiaries including Herfy Bakery and a soon to be built meat processing plant. It has been an entirely Saudi-owned company since its inception.
History
Herfy was founded by Ahmed Al-Said in 1981. In 1994, Panda United was acquired by Prince Waleed bin Talal's Kingdom Holding Company. Consequently, Panda's 70% stake in Herfy was transferred to Kingdom, bolstered by the new large budget provided by Kingdom.
In 1998, AlAzizia Panda United (Panda's new name) was acquired by The Savola Group, headed by Adel Al-Fakeh, and Herfy became part of the group. Herfy's growth again grew as the number of Herfy chains doubled.
Future projects
Herfy recently opened its first overseas branch in Bahrain in cooperation with local partner Al Meer Trading. Franchise agreements in the U.A.E. and Kuwait have been concluded and more franchise requests have been received.
To cope with the added overseas branches, Herfy is planning to open its own SR13 million meat and chicken processing plant in a similar way to Herfy Bakery.
References
- ↑ "Herfy Food Services Co. Earnings Estimates". Bloomberg Business.