Quick Summary:
-
UAC of Nigeria will acquire 100% equity in CHI Limited from The Coca-Cola Company.
-
CHI is the maker of popular brands Chivita and Hollandia, market leaders in dairy and fruit beverages.
-
The acquisition aligns with UAC’s growth strategy and Coca-Cola’s asset-light global model.
-
The deal is subject to regulatory approval and will expand UAC’s footprint in the Nigerian FMCG space.
UAC of Nigeria Plc has announced a definitive agreement to acquire 100% equity interest in CHI Limited, the company behind household beverage names Chivita and Hollandia. This acquisition is from The Coca-Cola Company, which currently holds full ownership of CHI.
CHI: A Powerhouse in Nigeria’s FMCG Market
CHI Limited is a major player in Nigeria’s fast-moving consumer goods (FMCG) space. The company is widely known for its value-added dairy products, juices, and snacks. Its flagship brands, Chivita and Hollandia, are market leaders in categories such as fruit juice, drinking yoghurt, and evaporated milk.
A Strategic Milestone for UAC’s Growth
The acquisition is in line with UAC’s broader expansion agenda, positioning it as a more dominant player in Nigeria’s food and beverage industry. According to the company, the deal will help leverage CHI’s innovation, distribution strength, and brand equity.
UAC’s Group Managing Director, Fola Aiyesimoju, expressed optimism:
“This acquisition presents significant potential to build on CHI Limited’s legacy of excellence and innovation.”
Coca-Cola’s Strategy and Commitment to Africa
The transaction also aligns with Coca-Cola’s global asset-light strategy, which focuses on scalable, high-potential brands. Despite divesting CHI, Coca-Cola reaffirmed its $1 billion investment commitment to Nigeria over five years, citing the region’s long-term growth potential—contingent on a predictable and enabling environment.
CHI’s Legacy and Workforce Recognized
Eelco Weber, Managing Director of CHI Limited, commended the company’s progress and workforce, stating:
“Our employees—over 5,000 strong—have helped Chivita and Hollandia become leaders in their categories and earn us a Gold rating as a Great Place to Work.”
Looking Ahead: UAC’s Deeper FMCG Footprint
This acquisition represents a significant shift in Nigeria’s food and beverage landscape, with UAC positioned to gain more control in high-demand categories through the strength of CHI’s well-known brands and infrastructure.