Nestle see 20% sales rise in Saudi next year

  • Share via facebook
  • Tweet this
  • Bookmark and Share
Swiss confectionary giant Nestle.

Swiss confectionary giant Nestle.

Consumer foods giant Nestle says that its sales in Saudi Arabia will increase by as much as 20 percent next year, the firm’s Middle East CEO told Bloomberg.

The world’s largest food company has notched up sales of about SAR2.5bn (US$700m) in the GCC’s most populous country so far this year, Yves Manghardt said.

“It’s a very important market for us,” Manghardt told Bloomberg. “Nestle in Saudi Arabia contributes roughly 30 percent of our business in the Middle East.”

In the past two years, Switzerland-based Nestle has added bottling facilities and distribution centres in the kingdom. Since Nestle entered the Middle East in 1997, the company has invested more than US$400m, and now owns and operates 17 factories and employs 7,000 staff.

Nestle forecasts that regional sales will grow from US$1.4bn in 2009 to US$3.3bn in 2017.

“We have provided 230 jobs in Saudi Arabia, 37 percent of them are occupied by Saudis and we aim for that number to reach 40 percent soon,” Roger Meguerdichian, Saudi Arabia country manager, Nestle, told Bloomberg. “Our investment in head-count will increase 30 percent in 2013.”

In June this year, the company announced that it would build a US$136m factory in Dubai World Central, creating about 800 new jobs in the Gulf emirate.

Join the Discussion

Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.

Please post responsibly. Commenter Rules

  • No comments yet, be the first!

All comments are subject to approval before appearing

Further reading

Features & Analysis
Growth spurt for Gulf's e-commerce sector

Growth spurt for Gulf's e-commerce sector

The recent sale of to Germany’s Rocket Internet for...

How the UAE is sewing together a top industry

How the UAE is sewing together a top industry

In the shadows of oil and aviation, the UAE’s textiles industry...

Mall talk

Mall talk

Plans for Dubai’s Mall of the World have made headlines all over...

Most Discussed