Solfinka Raphael & Co. was started up in 1961 by Elias Raphael. With a capital of L.L 15,000 and only four employees, its main focus was to import and distribute paper in the Lebanese market. With Elias Raphael getting old, his son Joe Raphael, freshly graduated from the school of engineering took over the company in 1963. At that time, a joint venture was undertaken with Antoine Azouri, an experienced salesman.
The company became, Raphael, Azouri & Co. (capital L.L 100,000) and the small family business started growing as outside shareholders were brought in.
The company expanded its range of products to include board as Khederian & Co., a company specialized in board products, merged with Raphael, Azouri & Co. in 1979. The newly formed entity Raphael, Azouri, Khederian & Co. RAK Papier et Carton (capital L.L 3,000,000) became known as one of the main companies specialized in the import and distribution of paper and board.
The company started to import paper & board products from almost all parts of Europe and USA. It later expanded into paper processing and it now owns several cutting machines. The company's offices were located in Sodeco and it had several warehouses:
Sodeco, Ashrafieh, Dbaye, Ain el Remmaneh.
In 1982, a main partner Mr Khederian sold his shares and immigrated to Europe. The company's name became Raphael, Azouri & Co. RAK Papier et Carton (capital L.L 4,000,000).
Also, in 1991, Mr Azouri retired due to his old age and sold his shares.
In 1993, a new partner, Mr Abdallah Dfouni joined the company as general manager.
In 1994, The company bought a new warehouse in Mar Roukoz (capital of RAK L.L 3,000,000,000).
In 1999, Mr Dfouni left the company.
In 1999, RAK purchased an 8-story building in Fanar as a way to centralize its operations between Sodeco, Mar Roukoz and Fanar.
In 2000, RAK started to develop its operations to the Middle-East market (capital of RAK L.L 5,500,000,000).
In 2002, RAK moved its offices to the Fanar building and gave up the Sodeco warehouse thus reducing overhead costs by operating with two warehouses instead of three.
In 2009, RAK purchased a new warehouse in Dekwane to be able to increase its inventory level following the increase in sales.
In 2014, RAK increased its capital to become L.L 6,600,000,000.
In 2016, Mr Joe Raphael retired as Chairman and the General Assembly thanked him for 53 years of success and named him Honorary Chairman.
The new Board of Directors elected Mr Nabil Asmar as Chairman and General Manager.
Currently, RAK employs about 60 people and sells almost $30 millions a year. Its market share amounts to about 20 % of the Lebanese market.