Admin
The United Africa Company (UAC) of Nigeria PLC has announced the acquisition of Chivita/Hollandia (CHI Limited) from The Coca-Cola Company, marking a major move in its bid to expand within Nigeria’s fast-moving consumer goods (FMCG) industry.
Naija News understands that the acquisition, disclosed in a corporate filing to the Nigerian Exchange Limited (NGX) on Wednesday, is still subject to regulatory approvals.
According to the NGX filing, the transaction aligns with Coca-Cola’s global strategy of operating a more flexible and asset-light business model, focusing on high-potential brands.
“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 statement read.
The beverage giant reiterated its commitment to Africa, noting that it plans to invest $1 billion in Nigeria over the next five years, provided the operating environment remains stable and supportive.
“This investment underscores the importance of Africa as a long-term growth opportunity for the Coca-Cola system,” the filing added.
Speaking on the acquisition, Group Managing Director of UAC, Fola Aiyesimoju, said the move presents enormous opportunities for value creation and consolidation in the FMCG market.
“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,” Aiyesimoju said.
He also expressed optimism about the future, praising CHI Limited’s reputation and market performance.
“This acquisition presents significant potential to build on CHI Limited’s legacy of excellence and innovation,” he said, while commending the management and staff for their contributions.
Also reacting, Managing Director of CHI Limited, Eelco Weber, said the company has witnessed remarkable growth over the years, establishing Chivita and Hollandia as leading brands in their respective 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 Gold-rated Great Place to Work,” Weber stated.
He affirmed the team’s confidence in the new chapter under UAC.
“We see a bright future for Chivita/Hollandia. With the strength of our team, coupled with the dedication of UAC, there will be exciting opportunities for further growth,” he said.
Naija News reports that the legal and financial structuring of the transaction involved top-tier advisory firms.
Fasken Martineau LLP and Templars acted as legal advisers to UAC, while Citi served as exclusive financial adviser to Coca-Cola, with McDermott Will & Emery providing legal counsel.
The post UAC Acquires Chivita, Hollandia From Coca-Cola appeared first on Naija News.
