Aujan acquires majority in Coca Cola Lebanon
Share purchase agreement between ACCBC and Transmed
The Saudi Arabian Aujan Coca-Cola Beverages Company (ACCBC) acquired, on February 12, the majority stake in the National Beverage Company (NBC), local manufacturer and distributor of Coca-Cola and Pampa products. NBC was part of Lebanese-based Transmed group, which will remain a minority shareholder. The amount of the deal has not been disclosed.
The acquisition agreement will be completed during the first half of 2014. Fouad Al Said, Chairman and CEO of Transmed, said: “The partnership aims at developing NBC’s operations in the local market. It will also help us develop our marketing operations in the Levant and MENA region.” Transmed is one of the largest consumer goods (FMCG) trade companies in the country.
ACCBC was established in Saudi Arabia following a $1 billion partnership between the Coca-Cola Company, USA and Aujan Industries. The company is also the authorized manufacturer of several brands such as Barbican and Rani juices. It is also the licensed manufacturer in the Middle East of Vimto soft drink. The company operates in 15 countries in the Middle East, and exports its products to more than 70 countries, worldwide.
Date Posted: Feb 12, 2014