MIDDLE EAST/AFRICA: Coca-Cola Co JV eyes fresh acquisitions - report
Coca-Cola teamed up with Aujan last year
The Coca-Cola Co's Middle East and North Africa partner, Aujan Industries, has said it expects to make more acquisitions going forward, according to a media report.
Aujan, which co-runs the Aujan Coca-Cola Beverages Co JV, told Gulf News yesterday (23 February) that it has planned “new initiatives” to increase its market share in the region. The comments, from Aujan CEO Nicolaas Nusmeier, follow Aujan Coca-Cola's agreement last month to take control of Lebanon's National Beverage Co.
“This is part of our strategy together with the Coca Cola Co to develop business in beverage in this part of the world,” Nusmeier reportedly said.
Nusmeier also said that Aujan Coca-Cola will control 80% of National Beverage Co, with original owner Transmed retaining 20%. He declined to give financial details.
Aujan Coca-Cola was formed last year out of a US$1bn partnership between Coca-Cola and Saudi Arabian group Aujan Industries.
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