Saudi Arabia-based Savola Group, the largest diversified conglomerate in the Middle East and Africa, has ranked 111th globally on Deloitte’s latest list of the world’s largest consumer products companies.
The 250 companies featured in the 2015 Global Consumer Products Report generated combined sales of $3.1 trillion — despite economic certainty, while the average company size reached $12.3 billion.
Savola was recognized as the biggest in the Middle East and Africa region, a category that saw a total of four companies. The other three spots were taken by Turkish firms.
The report provides an outlook on the global economy, as well as a look at merger and acquisition activity in the consumer products industry.
According to the findings, lower oil prices have boosted consumer purchasing power in many parts of the world including the United States, Europe and Japan, leading to higher economic growth.
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