UAC of Nigeria Plc (NGX: UACN) has announced that it has entered into an agreement to acquire Chivita|Hollandia (CHI Limited) from The Coca-Cola Company.
Also read; Zenith, Access, Wema and five other banks meet CBN recapitalisation requirements
In a regulatory filing on Wednesday, UACN stated that the 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.
Fola Aiyesimoju, Group Managing Director of UAC, 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.”
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.
Eelco Weber, Managing Director of Chivita|Hollandia (CHI Limited), said the business has made significant progress over the past few years, with the Chivita and Hollandia brands becoming clear leaders in their categories. “I would like to thank our over 5,000 employees for their hard work and dedication in bringing our business forward and earning us recognition as a Goldrated Great Place to Work,” Weber said.
The management team, including Weber, are confident in the company’s growth prospects. “We see a bright future for Chivita|Hollandia (CHI Limited),” Weber said. “With the strength of our team, coupled with the dedication of UAC, there will be exciting opportunities for further growth.”
On the part of Coca Cola, the transaction aligns with the 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 long-term growth opportunity for the Coca-Cola system.
About UAC
UAC of Nigeria PLC is a limited company incorporated and domiciled in Nigeria, whose shares are publicly traded on the Nigerian Exchange. The registered office is located at 1-5
Odunlami Street, Marina, Lagos.
UAC is a holding company focused on domestic manufacturing, marketing, and distribution of leading consumer brands in Africa. The company operates nine manufacturing facilities and several logistics and distribution hubs across Nigeria, with 5,000 employers.
The Group is a diversified business with activities in the following principal sectors: Animal Feeds and Other Edibles, Paints, Packaged Food and Beverages, and Quick Service Restaurants. The Company also has interests in Logistics, and Real Estate sectors.
About Chivita|Hollandia (CHI Limited)
Incorporated in 1980, Chivita|Hollandia (CHI Limited) was established as a local producer of high-quality food and beverage products for Nigerian consumers. The company was fully acquired by The Coca-Cola Company in 2019. Chivita|Hollandia (CHI Limited) champions innovation and supports economic growth through state-of-the-art, ISO 22000-certified manufacturing. Recognized as a Great Place To Work in 2023 and Gold certified in 2024, our flagship brands—Chivita and Hollandia—offer a wide range of fruit juices and value-added dairy beverages to meet evolving consumer needs.
Nnamdi Maduakor is a Writer, Investor and Entrepreneur
