
The Digest:
UAC of Nigeria Plc has sealed a deal to acquire CHI Limited, the parent company of Chivita and Hollandia brands, from The Coca-Cola Company. The acquisition strengthens UAC’s position in Nigeria’s fast-moving consumer goods (FMCG) sector, particularly in the dairy and juice market. This strategic move follows Coca-Cola’s shift towards an asset-light model, as it focuses on scalable brands. UAC’s Group Managing Director, Fola Aiyesimoju, expressed excitement about the growth prospects, highlighting CHI Limited’s legacy of innovation and leadership in the market.
Key Points:
- UAC has officially acquired CHI Limited, the owner of Chivita and Hollandia brands.
- The acquisition strengthens UAC’s position in Nigeria’s dairy, juice, and snack industries.
- Coca-Cola’s exit aligns with its strategy to streamline operations in Africa.
- UAC plans to build on CHI Limited’s success and further enhance its growth trajectory.
- The transaction is pending regulatory approval.
- Coca-Cola remains committed to its $1 billion investment in Nigeria over the next five years.
- UAC will work closely with CHI’s management team to drive continued growth.
The acquisition marks a significant milestone in UAC’s long-term growth strategy, positioning it as a key player in Nigeria’s FMCG sector. The deal also aligns with Coca-Cola's broader vision for future growth in Africa.