Herfy
 | |
| Company type | Public |
|---|---|
| Tadawul: 6002 | |
| ISIN | SA12GGPITP13  |
| Industry | Restaurants |
| Founded | 1981 in Riyadh, Saudi Arabia |
| Founder | Ahmed Al-Said |
| Headquarters | Riyadh, |
Area served | Saudi Arabia, Bahrain, United Arab Emirates, Kuwait and Bangladesh |
Key people | Hamoud Alibrahim (Founder) Ahmed bin Hamad al-Said (CEO) |
| Products | Fast food, including Super Herfy, kufta, fish fillet, french fries, and milkshakes |
| Revenue | |
| Total assets | 2,033,463,000 Saudi riyal (2019) |
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 Saudi Arabian multinational 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 380 restaurants and 5,000 employees throughout Saudi Arabia.
The company has many subsidiaries including Herfy Bakery.
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 four more branches later opened in Banani, Uttara, Mirpur and Dhanmondi, Dhaka.[2]
Herfy is now going to be opened in Nigeria, 50 Branches in the period of next 10 Years.
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.
- ^ "Herfy to open outlets in Bangladesh". Arab News.
