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 212 restaurants and 4,000 employees throughout Saudi Arabia.

Herfy Food Services Co.
Public
Traded asTadawul: 6002
ISINSA12GGPITP13 
IndustryRestaurants
Founded1981 (1981) in Riyadh, Saudi Arabia
FounderAhmed Al-Said
HeadquartersRiyadh,
Saudi Arabia
Area served
Saudi Arabia, Bahrain, United Arab Emirates, Kuwait and Bangladesh
Key people
Hamoud Alibrahim (Founder)
Ahmed bin Hamad al-Said (CEO)
ProductsFast food, including Super Herfy, kufta, fish fillet, french fries, and milkshakes
Revenue
  • SR1.2 billion (2018) [1]
Total assets2,033,463,000 Saudi riyal[2] (2019) 
Number of employees
1,800
Parent1981-1994 Panda United
1994-1998 Azizia Panda
1998-present Savola Group
Websiteherfy.com

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 two more branches later opened in Banani and Uttara, Dhaka.[3]

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.

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References
  1. "Herfy Food Services Co. Earnings Estimates". Bloomberg Business.
  2. "Company Details". Tadawul. Retrieved 12 April 2020.
  3. "Herfy to open outlets in Bangladesh". Arab News.
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