The Saudi Arabian Aujan Coca-Cola Beverages Company (ACCBC) has completed the acquisition of a 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, a regional distributor of fast moving consumer goods, which will remain a minority shareholder.
The deal enables NBC to benefit from ACCBC’s expertise and scale. The larger firm aims at developing NBC’s operations in the local market.
Nicolaas Nusmeier, CEO of ACCBC, said: “ACCBC has seen consistent growth in all of our markets over a long period, and we plan to replicate this performance with NBC by focusing on increasing its local market share.”
“This partnership with Transmed aims to grow NBC and its people over the long term. We are also keen to tap into the local talent pool as the business expands,” Nusmeier.
Fouad Al Said, Chairman and CEO of Transmed, said: “This deal brings long term direct investment into a bottling company in the market. It will also help us develop our marketing operations in the Levant and MENA region.”
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. 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.