UAC of Nigeria Sign Agreement to Acquire Chivita|Hollandia (CHI Limited) from Coca-Cola Company

UAC of Nigeria PLC has entered into an agreement to acquire Chivita|Hollandia (CHI Limited) from The Coca‑Cola Company, solidifying its position in Nigeria’s fast-moving consumer goods (FMCG) sector.

The proposed deal, pending regulatory approval, will bring under UAC’s umbrella a leading portfolio spanning value‑added dairy, juices, nectars, still drinks, and snacks.

CHI Limited, home to the Hollandia and Chivita brands, is the undisputed market leader in Nigeria’s evaporated milk and drinking yoghurt markets, with Chivita being the top fruit juice brand in the country.

The company’s extensive product line includes juices, nectars, still drinks, evaporated milk, and snack items, making it a powerful asset for UAC’s expanding consumer portfolio.

“This acquisition presents significant potential to build on CHI Limited’s legacy of excellence and innovation,” said Fola Aiyesimoju, Group Managing Director of UAC.

He noted that UAC remains committed to the continent’s growth and sees the deal as a cornerstone for long-term value creation in Nigeria’s competitive FMCG landscape.

Coca-Cola’s Investment Commitment still Continues

Coca-Cola remains committed to the Nigerian market. The company announced plans to invest $1 billion over five years, contingent on a stable and enabling policy environment.

The divestment supports Coca-Cola’s global strategy to focus on scalable brands and maintain operational flexibility.

Eelco Weber, Managing Director of CHI Limited, praised the company’s progress and staff dedication, highlighting the firm’s “Gold-rated Great Place to Work” status and strong category leadership. “With UAC’s dedication and the strength of our team, there will be exciting opportunities for further growth,” Weber added.

Legal counsel for UAC was provided by Fasken Martineau LLP and Templars, while Citi acted as Coca-Cola’s exclusive financial advisor. McDermott Will & Emery served as Coca-Cola’s legal advisor, ensuring the deal structure aligned with global compliance and governance standards.

A Win-Win for the Nigerian FMCG Market

The acquisition positions UAC to capitalize on Nigeria’s evolving consumer trends, while Coca-Cola retains strategic flexibility in a high-growth market

This strategic acquisition positions UAC at the forefront of Nigeria’s FMCG industry, combining premium dairy and juice powerhouses under one roof.

If regulatory approval proceeds smoothly, UAC could accelerate innovation and market penetration using CHI Limited’s strong brand equity and existing talent base.

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