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Beverage Bombshell: Coca-Cola Dumps Chivita, Hollandia in Surprise Sale to UAC!
UAC of Nigeria PLC has reached an agreement to acquire CHI Limited, the producer of the popular Chivita and Hollandia brands, from The Coca-Cola Company.....KINDLY READ THE FULL STORY HERE▶
The deal, however, remains subject to regulatory approval, according to a disclosure filed with the Nigerian Exchange Limited on Wednesday.
CHI Limited is a major player in Nigeria’s food and beverage sector, with a wide-ranging portfolio that includes value-added dairy products, juices, nectars, still drinks, and snacks.
Speaking on the acquisition, UAC Group Managing Director, Fola Aiyesimoju, said:
“As a company firmly rooted in Africa, we remain committed to the continent’s development. We’re excited to announce the acquisition of CHI Limited, a top-tier dairy and juice company in the region. This deal offers a compelling opportunity to build on CHI’s impressive legacy of quality and innovation. I extend my appreciation to the management and staff of CHI Limited and look forward to working together as we usher in a new phase of growth.”
Eelco Weber, Managing Director of CHI Limited, noted that the company has made tremendous strides in recent years, with Chivita and Hollandia emerging as market leaders in their respective categories.
“I want to thank our more than 5,000 employees for their commitment and hard work, which have helped position us as a Gold-rated Great Place to Work,” he said.
Weber and the management team expressed optimism about the company’s future growth trajectory under its new ownership.
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