Coca-Cola Sells Chi Limited to UAC of Nigeria
The Coca-Cola Company has announced the sale of Chivita|Hollandia (CHI Ltd.) to UAC of Nigeria Plc for an undisclosed amount. Head of public affairs and communications, Mrs Zainab Obagun made the statement available in Lagos on Wednesday.
ChivitaHollandia is a leading food and beverage player in Nigeria with portfolios across value-added dairy products, juices, nectars, still drinks and snacks. The Hollandia brand is a market leader in evaporated milk and drinking yoghurt, while the Chivita brand is a market leader in fruit juice.
UAC is a holding company focused on domestic manufacturing, marketing, and distribution of leading consumer brands in Africa. According to the statement, the transaction, which is subject to regulatory approval, supports 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 Group Managing Director of UAC, Mr Fola Aiyesimoju, said: “As a company with a strong presence in Africa, we are deeply committed to the continent’s growth.”
He said the acquisition presented significant potential to build on Chivita|Hollandia legacy of excellence and innovation. “We are pleased to announce the acquisition of Chivita|Hollandia (CHI Ltd.), a leading dairy and juice business in the region.
“I would like to thank the management and staff of Chivita|Hollandia (CHI Ltd.) and look forward to working with the team to support the next phase of growth,” Aiyesimoju said.
The Managing Director of CHI Ltd., Eelco Weber, also noted that Chivita and Hollandia brands had become 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 Gold-rated Great Place to Work.
“We see a bright future for Chivita|Hollandia (CHI Ltd.) With the strength of our team, coupled with the dedication of UAC, there will be exciting opportunities for further growth.” Weber said. #Coca-Cola Sells Chi Limited to UAC of Nigeria GCR Upgrades LAPO Microfinance Bank Rating Outlook
