S.M.L.C. s.a.l. (الشركة العصرية اللبنانية للتجارة المساهمة ش.م.ل ) was founded by the late Toufic Assaf and his brothers Youssef, Salim and Anis Assaf in 1952. SMLC enjoys the unique distinction of being the first Pepsi franchisee and bottler to operate in the Levant.

In 1989 Toufic Assaf won the hall of fame award, PepsiCo's highest recognition for franchise holders, which has only been given to a handful of bottlers, around the world, in PepsiCo's history.

In 2001, SMLC made a strategic alliance with PEPSICO. PEPSICO acquired 34.5% of SMLC's shares; the balance of the shares remaining with the Assaf family.