After the Coca-Cola distributor National Beverage Company (NBC) announced recently that it can no longer sustain itself, and sees no solution in Lebanon’s economy, new information has been just released.
CNBC Arabia reporter Hana Hamzeh uncovered that former minister Alain Tabourian bought the rights to the international soft drink giant and required, as part of the deal, that the company shuts down and all the employees to be sent home.
This is apparently the same action Tabourian took when he purchased a stake at Sannine Water company.
According to Interbrand SAL, the company manages X-tra Juice, Sannine Water, Libby’s (under license), Bonjus (under license), RC Cola (upon agreement with Cott Beverages).
It isn’t a rare business practice to acquire companies of competitors, usually with a non compete clause, shut down all their operations and/or brands in the territory, and divert the competition’s consumers to their brands.
If this is the case with Coca-Cola in Lebanon, would the Lebanese consumers ever see their favorite soda again in the market? Or does Tabourian intend to reopen the company and keep it going? The future will tell.
Disclaimer: Wednesday, May 13th – We previously wrote that Bonjus is owned by Interbrand SAL. New information revealed to us that Bonjus is actually managed by Interbrand SAL under a license, and not owned. We made the correction above accordingly.