February 24, 2013 – Aujan Group Holding and The Coca-Cola Company agreed to a partnership that will create two new beverage companies in the Middle East. As part of the agreement, The Coca-Cola Company will invest in half of Aujan’s beverage business. The deal will create the Aujan Coca-Cola Beverages Company and Rani Refreshments. Rani Refreshments will hold rights to its iconic brands Rani and Barbican and provide concentrate for those products. Meanwhile, the Aujan Coca-Cola Beverages Company will be a licensed manufacturer and distributor of those products.
“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. Lastly, the announcement mentioned that Roland Ebelt, the former General Manager of the Coca-Cola Innovation Company in the Middle East, will be the new General Manager at Rani Refreshments.