UAC acquires Chivita Hollandia in a strategic deal from Coca-Cola, boosting its FMCG presence and expanding in Nigeria’s dairy and juice market
UAC acquires Chivita Hollandia in a move that signals its deeper commitment to the fast-moving consumer goods (FMCG) market in Nigeria.
Also read: Coca-Cola and PepsiCo new drink strategies spark bold soda rivalry
The deal, which involves acquiring CHI Limited from The Coca-Cola Company, was disclosed in a regulatory filing with the Nigerian Exchange Limited on Wednesday, pending final approvals.
Chivita|Hollandia, known for its Hollandia and Chivita brands, is a prominent player in Nigeria’s food and beverage space, offering juices, dairy products, and snacks.
Group Managing Director of UAC, Fola Aiyesimoju, stated, “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.”
We see a bright future for Chivita|Hollandia.
He described the move as one that “presents significant potential to build on Chivita|Hollandia’s legacy of excellence and innovation.”
Eelco Weber, Managing Director of Chivita|Hollandia, thanked the 5,000+ employees and noted the company’s reputation as a Great Place to Work. “We see a bright future for Chivita|Hollandia,” he said.
Legal advisors to UAC were Fasken Martineau LLP and Templars. The Coca-Cola Company was advised by Citi and McDermott Will & Emery.
Also read: Chivita Crowned “Outstanding Juice Brand of the Decade” at MarketingEdge Excellence Awards
UAC said the acquisition aligns with Coca-Cola’s plan to focus on scalable brands and pursue an asset-light strategy, while reaffirming its $1bn investment commitment to Nigeria over five years.
Source: Read more at premiumtimesng.com
Peculiar Adirika is a journalist and contributor to Freelanews.com, covering news, business, and public affairs.
