S.M.L.C. s.a.l. (الشركة العصرية اللبنانية للتجارة المساهمة ش.م.ل ) enjoys the unique distinction of being the first Pepsi franchisee and bottler to operate in the Levant. In 1989, SMLC won the hall of fame award, PepsiCo's highest recognition for franchise holders around the world. In 2001, PepsiCo acquired more than third of SMLC's shares; the balance of the shares remaining with the Assaf family. Today, SMLC has the highest carbonated soft drinks market share in the world, and has been a member of Pepsi Chairman’s Club since its inception. That club consists of the Pepsi Bottling operations which have more than 80% market share in their territory.