Aujan Coca Cola Beverages Company (ACCBC) confirmed that it has completed the acquisition of a majority stake in Lebanon’s National Beverage Company (NBC).
The value of the deal, first announced in January this year, was not disclosed. The size of the stake was also not revealed.
NBC is the manufacturer and distributor of Coca-Cola, Pampa, and other products in Lebanon.
ACCBC acquired its stake from Transmed, a consumer products distributor, which retains a holding in NBC, a statement said.
The deal will enable NBC to “benefit from ACCBC’s significant expertise and scale” and ensure that Lebanese consumers have choice within the local market, it added.
Nicolaas Nusmeier, CEO of ACCBC, said: “ACCBC has seen consistent growth in virtually all of our markets over a long period, and we plan to replicate this performance with NBC by focusing on increasing its market share within Lebanon.”
Fouad Es-Said, chairman and CEO of Transmed, added: “This deal brings long term direct investment into Lebanon and into one of the major bottling companies in the market.”
Aujan Coca-Cola, the manufacturer of brands such as Rani, Barbican and Vimto, was established following a $1 billion joint venture between the Coca-Cola Company and Saudi-based Aujan Industries in December 2011.
ACCBC currently operates from two manufacturing facilities in the Middle East.