In a strategic realignment of its global business portfolio, The Coca-Cola Company has agreed to relinquish its entire stake in CHI Limited, the producer of the Chivita and Hollandia brands, to UAC of Nigeria PLC. The transaction, subject to regulatory approvals and closing conditions, represents a significant milestone in Nigeria’s fast-moving consumer goods (FMCG) sector.
CHI Limited, acquired by Coca-Cola through a phased investment beginning in 2016, is a market leader in fruit juices, value-added dairy, and snacks. With Chivita and Hollandia commanding strong consumer recognition, the acquisition presents UAC, one of Nigeria’s most diversified conglomerates, a strategic opportunity to deepen its footprint in the food and beverage value chain.
This move supports Coca-Cola’s strategy to operate an asset-light model and focus on scalable beverage brands, while UAC aims to unlock long-term value through operational synergies and market expansion.
Fola Aiyesimoju, the Group Managing Director of UAC, expressed confidence in the acquisition’s growth potential. Eelco Weber, Managing Director of CHI Limited, reiterated the company’s strength and commitment to continuity. Citi, along with legal firms McDermott Will & Emery, Fasken Martineau LLP, and Templars, provided advisory services for the deal.
