Herfy

Herfy Food Services Co.
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, Kuwait and Bangladesh
Key people
 founder: Ibrahim Al-Hamoud, Ahmed Alsaeed,
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
  • Decrease SR848.7 million (2013) [1]
Number of employees
 1,800
Parent 1981-1994 Panda United
1994-1998 Azizia Panda
1998-present Savola Group
Website herfy.com

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 and international 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.

Herfy opened its first branch outside the Middle East in Bangladesh in December 22, 2017, where they are supposed to open 30 outlets within "a few years". The first branch opened in Gulshan and the second branch in Banani, Dhaka.[2]

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

  1. ↑ "Herfy Food Services Co. Earnings Estimates". Bloomberg Business.
  2. ↑ "Herfy to open outlets in Bangladesh". Arab News.
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