​Saudi's ​Herfy​ Foods has weathered several ‘tough’ crises​, says founder​

02/01/2015 Argaam

Ahmed Al-Said, founder of Saudi Arabian Herfy Food Services Co, said the company has weathered tough times especially when Prince Alwaleed bin Talal demanded to either shut down or develop the company after buying a majority stake in the fast food chain, according to Al Riyadh newspaper.

Prince AlWaleed, CEO of the investment vehicle, Kingdom Holding, brought experts from the United States at his own expense to study the company’s performance, Al-Said added.

Al-Said, who conducted business in real estate and shipping, founded Herfy in 1981.

Up to 70 percent of the company is owned by Azizia Panda United, a Saudi Arabian grocery retailing company.

Prince AlWaleed bought Panda United in 1994, thus giving Kingdom Holding a controlling stake in the company.

Herfy, whose name in Arabic means a baby sheep, has chain restaurants ​across the kingdom ​that sell fast food, pastries, and bread.

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