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Wed 10 Dec 2008 06:43 PM

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Rich List-The Algosaibi Family

Rich List-The Algosaibi Family

Ahmad Hamad Algosaibi & Bros was founded by managing director Saud Abdul Aziz Algosaibi’s grandfather, Hamad, whose three sons, Ahmad, Abdul Aziz and Suleiman grew the firm into the major, diversified business group it is today.

Suleiman is the lone surviving brother and chairman of the Al Khobar, Saudi Arabia-based group and owns a controlling stake in the company, which is best known as the manufacturer and distributor of PepsiCo soft drinks in the region.

Group investments include the ownership of the National Bottling Company, which is based in Saudi Arabia’s Eastern Province, the luxury Algosaibi Hotel, the AH Algosaibi & Bros Money Exchange (which holds the Saudi rights for distribution of the American Express Gold card and Amex traveller cheques), The International Banking Corporation (TIBC-Bahrain), and multiple, banking/financial, shipping and manufacturing ventures.

The Algosaibi Group is industrial partners with Continental Can, Crown Cork Holdings, SABIC, Olayan Holdings, Al Moajil, and British Petroleum in manufacturing operations throughout the Middle East. Their trading activities represent companies as diverse as Sumitomo of Japan, Jeumont of France, Mirrlees Blackstone of the UK, and US-based ShawCor. Active in Saudi Arabia’s publicly-traded corporate market, they are shareholders in Saudi American Bank, the Arab National Bank, the Saudi British Bank, Eastern Cement, Saudi Cement, Arabian Industrial Development (NAMA), Savola, SCECO (East), Saudi Hotels, Saudi Chevron Phillips, the Tihama Media Group and United Sugar to name but a few.

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