UAC of Nigeria PLC (UAC) has entered into an agreement to acquire Chivita|Hollandia (CHI Limited) from The Coca-Cola Company. Chivita|Hollandia (CHI Limited) is a leading food and beverage player in Nigeria, with a portfolio across value added dairy products, juices, nectars, still drinks, and snacks.

The Hollandia brand is the market leader in evaporated milk and drinking yoghurt, while the Chivita brand is the market leader in fruit juice.

This transaction, which is subject to regulatory approval, marks a strategic milestone in UAC’s growth agenda, expanding its presence in Nigeria’s fast-moving consumer goods sector.

It supports The Coca-Cola Company’s strategy to operate a flexible and asset-light model and focus on brands that have the greatest potential to scale. The Coca-Cola system recently announced it will invest $1 billion in Nigeria over five years and remains committed to these investments, provided a predictable and enabling environment is in place.

This investment underscores the importance of Africa as a longterm growth opportunity for the Coca-Cola system. Speaking on the Chivita|Hollandia (CHI Limited) acquisition, Group Managing Director of UAC, Fola Aiyesimoju, said:

“As a company with a strong presence in Africa, we are deeply committed to the continent’s growth. We are pleased to announce the acquisition of Chivita|Hollandia (CHI Limited), a leading dairy and juice business in the region.

“This acquisition presents significant potential to build on Chivita|Hollandia’s (CHI Limited’s) legacy of excellence and innovation. I would like to thank the management and staff of Chivita|Hollandia (CHI Limited) and look forward to working with the team to support the next phase of growth.”