Industry: Banking & Finance
Country: Saudi Arabia
Wealth: 3.1 Billion
The Abudawood Group is a diversified international conglomerate incorporating investments in the Middle East, Europe and US, and covering a wide range of sectors including sales and distribution, trading, real estate, financial investments and education and training.
At its heart is the Ismail Ali Abudawood Trading Company (IATCO), founded in 1935 as a small wholesale business by Mohammed and Ismail Abudawood. It is today one of the largest distribution operations in Saudi and is the Kingdom’s leading distributor of fast-moving consumer goods (FMCG).
IATCO is the preferred distributor for some of the world’s most prestigious companies, including Procter & Gamble, Clorox, Quaker, Ferrero, and Fonterra. Its sophisticated distribution network of 20 warehouse and distribution facilities and a fleet of over 200 modern delivery vans ensure timely delivery to over 20,000 retail outlets in more than 140 cities and rural areas.
Today, Osama Ismail Ali Abudawood is chairman. He took the reins in 2005, upon the death of Ismail after a prolonged illness. Ismail had dominated the Saudi business landscape for more than seven decades, and was the chairman of the Islamic Chamber of Commerce and Industry since its establishment until his death. Known as the Shahbandar Altujar, or ‘Leader of Businessmen’, he had been a prominent player in the economic reforms that have propelled Saudi forwards. Osama has big shoes to fill.