The Federal Competition and Consumer Protection Commission (FCCPC) has approved the sale of CHI Limited, makers of Chivita|Hollandia to UAC of Nigeria Plc (NGX: UACN). The approval marks the completion of the transaction.
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In July, Investogist reported that UAC of Nigeria Plc has entered into an agreement to acquire CHI Limited from The Coca-Cola Company.
Speaking after the approval, Elco Weber, Managing Director of Chivita|Hollandia (CHI Limited) said “We are pleased to have received regulatory for this transaction. We look forward to a smooth transition and to seeing Chivita|Hollandia (CHI Limited) thrive under UAC’s ownership.”
Fola Aiyesimoju, Group Managing Director of UAC, commented: ““We are excited to officially welcome the Chivita|Hollandia (CHI Limited) team and brands into the UAC family, and we are eager to work together to build on their strong legacy and market leadership.”
The Federal Competition and Consumer Protection Commission (FCCPC) is the leading authority for competition and consumer protection in Nigeria. Amongst its duties is the promotion of fair business practices and safeguard the interest of consumers.
About UAC
UAC of Nigeria PLC is a limited company incorporated and domiciled in Nigeria. Its 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 principal sectors such as 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. Coca-Cola acquired the Company in 2019. Chivita|Hollandia (CHI Limited) champions innovation and supports economic growth through state-of-the-art, ISO 22000-certified manufacturing.
Nnamdi Maduakor is a Writer, Investor and Entrepreneur
