Consolidated Grünenfelder Saady Holding Company (CGS), also known as Coldstores Group of Saudi Arabia, is a Saudi enterprise specializing in cold chain technology and advanced refrigeration solutions. Established in 1976 as a Swiss-Saudi joint venture by Albert Grünenfelder and Esmat Al Saady on June 30, 1976, the company designs and manufactures complex refrigeration units, refrigerated transport systems, and mobile cold storage facilities that serve industries where temperature control is critical, such as food, pharmaceuticals, and healthcare logistics. Headquartered in Saudi Arabia, with manufacturing and after-sales facilities in Riyadh, Jeddah, Dammam, and the Kingdom of Bahrain.
CGS is a market leader in the refrigeration sector in the Kingdom, with an average market share of approximately 45% in transport refrigeration. The company serves a diversified customer base of more than 3,000 clients and delivers customized cold chain infrastructure across food security, healthcare, logistics and industrial projects. Today, CGS operates through four complementary business segments: Automotive Solutions, Stationary Refrigeration, Customised Solutions, and Aftermarket Services, serving industries including food production, logistics, healthcare, pharmaceuticals, industrial manufacturing, telecommunications, energy, and defence.
Recent leadership news
In December 2025, CGS completed its IPO on the Saudi Exchange (Tadawul), with 30 million shares offered at SAR 10 per share, resulting in a market capitalization of SAR 1.0 billion (approximately USD 266 million). Peter Faerber serves as Group CEO of CGS.
Facts compiled by Executive Moves from publicly available news and press releases on 31 July 2026. Spotted an inaccuracy? Email us and we'll review within 1 business day.
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