UAC of Nigeria PLC has announced an agreement to acquire Chivita|Hollandia (CHI Limited) from The Coca-Cola Company, marking a major move in Nigeria’s food and beverage sector.
According to a statement filed with the Nigerian Exchange Limited today, the transaction is still subject to regulatory approval.
CHI Limited, known for its popular Chivita and Hollandia brands, is a key player in Nigeria’s value-added dairy and juice market, with a broad portfolio that includes juices, nectars, dairy products, still drinks, and snacks.
UAC’s Group Managing Director, Fola Aiyesimoju, commented on the deal, saying, “We are excited about this acquisition, which aligns with our commitment to Africa’s growth. Chivita|Hollandia is a leader in its category, and this transaction presents an opportunity to build on its legacy of excellence and innovation.”
CHI Limited’s Managing Director, Eelco Weber, also expressed optimism about the company’s future under UAC’s leadership.
“Our brands have become category leaders thanks to the dedication of over 5,000 employees. We believe this partnership with UAC will unlock exciting new opportunities for growth,” he said.
Legal advisors for the transaction include Fasken Martineau LLP and Templars for UAC, while Citi acted as Coca-Cola’s exclusive financial advisor, with McDermott Will & Emery providing legal counsel.
UAC described the deal as a strategic step in expanding its footprint within Nigeria’s fast-moving consumer goods (FMCG) sector.
For Coca-Cola, the sale supports its shift towards a more flexible, asset-light business model, focusing on scaling high-potential brands.
The beverage giant reiterated its long-term commitment to Nigeria and Africa at large, noting that it recently announced a $1 billion investment plan for Nigeria over the next five years—contingent on a stable and enabling business environment.