In a strategic realignment of its global business portfolio, The Coca-Cola Company has made an agreement to divest it’s entire stake in CHI Limited producers 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 offers 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.
UAC’s Group Managing Director, Fola Aiyesimoju, expressed confidence in the acquisition’s growth potential. CHI Limited’s Managing Director, Eelco Weber, reaffirmed the company’s strength and commitment to continuity. Citi and legal firms McDermott Will & Emery, Fasken Martineau LLP, and Templars advised on the deal.
