By Staff writer
Drinks giant puts into place a five-year strategy to drive profitability as beverage market continues to grow
Saudi-based Aujan Coca-Cola Beverages Company (ACCBC) has said that it is on track with its growth plans across the Gulf with plans to build further manufacturing facilities in the region.
The company, which was established following a $1 billion partnership between The Coca-Cola Company and Aujan Industries, said it has put in place a five-year growth strategy to drive profitability.
It said in a statement that the strategy will allow it to identify opportunities and avenues that "allow us to grow without being constrained by product categories and geographies".
Tolga Sezer, CEO, ACCBC, said: "Despite political and economic disruption over the past few years, the regional beverage market has continued to grow, and we expect this to continue.
"For ACCBC, an increasingly youthful population across MENA, together with opportunities for new categories and fresh consumer-focused innovations, mean significant growth prospects.
He said the company will undertake a number of major investments over the next 18 months, each designed to enhance capacity, geographical coverage, and brand development.
These additions to our portfolio will allow us to capitalise on the growth potential for the beverage industry across the MENA region," Sezer said.
Following investment plans in Egypt last year, ACCBC said it will be looking at acquisition and joint venture opportunities in the MENA region this year.