Feb 25 2013
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Coca-Cola, Aujan Group form 2 new world-class beverage firms
RIYADH - The Coca-Cola Company and Aujan Group Holding announced Sunday the formation of two new world-class beverage companies, the Aujan Coca-Cola Beverages Company and Rani Refreshments, following the successful investment by The Coca-Cola Company into approximately half of Aujan's beverage business.
Rani Refreshments will hold the global rights to brands such as Rani and Barbican, while the Aujan Coca-Cola Beverages Company will be an authorized manufacturer and distributer of its products. The Aujan Coca-Cola Beverages Company will also be the licensed manufacturer in the Middle East of VIMTO.
The two companies will mirror the Coca-Cola system, which comprises The Coca-Cola Company and its nearly 300 bottling partners worldwide, with Rani Refreshments supplying the Aujan Coca-Cola Beverages Company with proprietary concentrate, which will then produce, sell and distribute the finished product to markets across the Middle East and beyond.
"Today's announcement puts the final seal on the largest-ever investment by a multinational firm in the Middle East's fast moving consumer goods sector, and marks the next stage of development for our group and our brands," said Sheikh Adel Aujan, Chairman of Aujan Group Holding. "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 will serve as general manager of Rani Refreshments. He joins from The Coca-Cola Company where he was most recently the General Manager of the Coca-Cola Innovation Company in the MENA region, with responsibility for the strategic direction of still beverages as well as for the development and commercialization of new concepts and products.
"Although the relationship between The Coca-Cola Company and Aujan Group Holding is still new, we are already seeing real operational benefits, from the way we manufacture our products to the way we develop our brands. With our reorganization now complete, we have total confidence that this new structure will allow both companies to build on their shared heritage of success to benefit our consumers, suppliers and partners for many years to come," Aujan added.
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