Nestle completes acquisition of Sohat
The world’s biggest food company, Nestle, finalized last week the full acquisition of Lebanon’s major mineral-water producer, Sohat, after several weeks of negotiating details. An official from Nestle declared that the Swiss-based company will fully control the Lebanese firm after previously owning a 49 percent stake in Sohat.
Despite increasing competition from local bottled water brands like Sannine, Rim and Tannourine, Sohat, produced by the Societe des Eaux Minerales Libanaises, maintained a 35 percent share of the local mineral-water market, aided by Nestle who helped establish the $8 million Falougha plant with capacity of 19,200 bottles per hour in 1997.
It is still not clear how much the acquisition is worth, and why the 50-year old Zoghzoghy family enterprise decided to sell its remaining shares to Nestle. — ( Banque du Liban et d'Outre-Mer Sal )
© 2001 Mena Report (www.menareport.com)
- Organizations must foster a culture of ‘openness’ to encourage innovation, hears IMD Business Forum on Keys to Sustainable Organic Growth
- Alcon Independent Director Committee Announces Creation and Funding of Litigation Trust
- twofour54 signs global publishing deal with Macmillan Children’s Books for ‘Driver Dan’s Story Train’
- Sherwoods to showcase best-selling properties in Dubai, Abu Dhabi, UK, France and India at Cityscape Abu Dhabi