Aujan buys stake in Lebanese beverage firm
Dubai, January 28, 2014
Aujan Coca-Cola Beverages Company, a leading regional drinks manufacturer with operations in the Mena region, said it has signed a key agreement with Lebanon-based Transmed to buy a majority stake in National Beverage Company (NBC).
NBC is a leading manufacturer and distributor of Coca-Cola and Pampa products in Lebanon.
Aujan Coca-Cola was established following a $1 billion partnership deal between the Coca-Cola Company and Aujan Industries. The company is the authorised manufacturer of brands including Rani and Barbican, and also the licensed manufacturer in the Middle East of Vimto.
The group currently operates from 15 countries across the Middle East and its products are sold in more than 70 markets worldwide.
Commenting on the deal, CEO Nicolaas Nusmeier said the partnership reflects Aujan’s commitment to invest in beverages for long term growth, and the company looks forward to developing and growing this business over time.
"We will work closely with the local team over the coming months as we embark on what we believe will be a highly successful partnership for the employees, consumers and suppliers of NBC," he remarked.
Transmed CEO and chairman Fouad Es-Said pointed out it was a great deal for both companies.
Beirut-based Transmed is a regional sales, distribution and bottling organization with operations in the UAE, Jordan, and Africa.
"It allows Transmed to focus on growing its core distribution business across the Levant, Middle East and African regions while partnering with the leading regional drinks manufacturer in the region, Aujan Coca-Cola, in its beverages business in Lebanon," he stated.
Aujan said it expects to complete the full transaction within the first half.-TradeArabia News Service
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