JEDDAH, 16 May — Savola Group has made a SR30 million profit as a result of selling 20 percent interest in Deema, a thriving biscuit manufacturing and marketing firm with extensive operations in Saudi Arabia, the rest of the Middle East and Africa.
The move came as part of Savola’s strategically envisioned trend to focus on a limited number of pivotal activities. A contract to this effect has been signed with some of Savola’s relevant regular procedures, according to a Savola press release.
Deema operates in several other fields including foodstuffs and light meals. It has 15 branches in key places in the Kingdom and is well represented by agents in various neighboring countries. Its trademark “Deema” is quite distinguished and is well restated in the market.
Earlier this year, Deema began placing on the market new products as part of an ambitious diversification plan to manufacture and market sweet pastry.