Coca-Cola, Aujan Group form two new beverage firms
The Coca-Cola Company has agreed to acquire around half of Aujan Group's beverage business for $980m to form Aujan Coca-Cola Beverages and Rani Refreshments.
Rani Refreshments will hold the global rights to brands like fruit juice drink Rani and sparkling drink Barbican, while the Aujan Coca-Cola Beverages will be an authorized manufacturer and distributer of its products.
The Aujan Coca-Cola Beverages will also be the licensed manufacturer in the Middle East of carbonated drink VIMTO.
Rani Refreshments will supply proprietary concentrate to the Aujan Coca-Cola Beverages, which will then produce, sell and distribute the finished product in the Middle East and beyond.
Aujan Group chairman Sheikh Adel Aujan said: "The structure has created a platform to unlock new international opportunities for Aujan's brands and begins the next era of growth across the MENA region for the Coca-Cola system."
Roland Ebelt of The Coca-Cola Company will serve as general manager of Rani Refreshments, with responsibility for the strategic direction of still beverages as well as for the development and commercialization of new concepts and products.