Coca-Cola, Aujan JV acquires 80% stake in Lebanese beverage firm
25/02/2014 1:54 am EDT

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Saudi beverage company, Aujan Industries has said it expects to sign more acquisitions in the future with its partner Coca-Cola, Gulf News has reported. “From that partnership we are going to develop a series of initiatives and they’re all around growth of beverages within the Middle East and North Africa region,” said the chief executive of Aujan, Nicolaas Nusmeier. Last month Aujan Coca-Cola Beverages Co (ACCBC), developed in 2013 after Coca-Cola acquired a 50% stake in Aujan back in 2011, announced it was acquiring a majority stake of Lebanon’s National Beverage Co (NBC). The company will control 80%, with existing shareholder Transmed holding on to 20%, said Nusmeier. The deal is expected to be finalised at the end of the second quarter.

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