Lagos, Nigeria, 09 SEPTEMBER 2015 —The Coca-Cola Company today launched a new line of fruit juice made from concentrate: Five Alive Pulpy Orange, and announced Teragro, agribusiness subsidiary of Nigerian conglomerate Transnational Corporation of Nigeria Plc (Transcorp) as the sole local-concentrate sourcing partner for the product.
Transcorp agribusiness subsidiary Teragro Commodities Limited produces orange, mango and pineapple concentrates for industrial markets. Teragro first began producing concentrate for Coca-Cola in 2014.
“In July, we invested in a world-class extraction cup, which revolutionized the production process and ensured that our concentrates meet the most stringent international standards,” said Teragro CEO Dupe Olusola. “Our budding relationship with Coca-Cola is essentially the international seal of approval on our products.”
Given the scale of The Coca-Cola Company’s sales network and the impact on critical resources like water, it has emphasized the importance of partnering locally to ensure sustainability of supply chain.
“We are establishing long-term relationships with suppliers all over the world, and our partnership with Teragro is helping us to change the way agribusiness is done in Nigeria,” said Nigerian Bottling Company Director of Stills Prahlad Gangadharan. “We are proud to have a supplier like Teragro, that delivers the highest quality product, making sustainability without sacrificing quality, a real possibility.”
Teragro recently signed a memorandum of understanding (MOU) with the Benue State government to lease land to establish citrus farms with improved varieties of citrus fruits and to diversify crops. The company employs and invests in capacity building for small-scale farmers as part of its commitment for improved return to investors, while providing support to the community.
“We have made investments in Teragro’s processes to ensure quality and that has elevated us to the pinnacle of local producers and ensures that we are able to compete with any international producer,” said Transcorp Group CEO Emmanuel N. Nnorom. “The fact that Coca-Cola is using our product is a testimony of its high-quality and of Coca-Cola’s commitment to meeting its goals with the best suppliers in Nigeria.”
About Transcorp Plc
Transnational Corporation of Nigeria Plc (Transcorp) is a leading diversified conglomerate. We focus on acquiring and managing strategic businesses that create long-term shareholder returns and socio-economic impact. Our business interests are in four strategic sectors: Power, Oil & Gas, Hospitality and Agriculture. Transcorp has a shareholder base of about 300,000 investors, the largest of which is Heirs Holdings Limited, an African proprietary investment company. Visit: http://transcorpnigeria.com @TranscorpPLC
About The Coca-Cola Company
The Coca-Cola Company (NYSE: KO) is the world’s largest beverage company, refreshing consumers with more than 500 sparkling and still brands. Led by Coca-Cola, one of the world’s most valuable and recognizable brands, our Company’s portfolio features 20 billion-dollar brands including Diet Coke, Fanta, Sprite, Coca-Cola Zero, vitaminwater, Powerade, Minute Maid, Simply, Georgia and Del Valle. Globally, we are the No. 1 provider of sparkling beverages, ready-to-drink coffees, and juices and juice drinks.