UAC Agrees to Acquire Coca-Cola’s Chivita, Hollandia in Nigeria

The Coca-Cola Company has agreed to sell Chivita|Hollandia (CHI Limited), a leading Nigerian food and beverage company known for its Hollandia dairy products and Chivita fruit juices, to UAC of Nigeria PLC. This transaction, still pending regulatory approval, aligns with Coca-Cola's strategy to focus on brands with the greatest scaling potential while maintaining a commitment to investing $1 billion in Nigeria over five years. UAC, a prominent African consumer goods company with extensive manufacturing and distribution operations in Nigeria, plans to build on Chivita|Hollandia's legacy of innovation and growth. Both UAC's Group Managing Director Fola Aiyesimoju and Chivita|Hollandia's Managing Director Eelco Weber expressed optimism about the future prospects following the acquisition. The deal was supported by legal and financial advisors on both sides, reflecting the strategic importance of this move in the African market. This sale marks Coca-Cola's continued focus on a flexible, asset-light business model while reinforcing UAC's position in the Nigerian consumer sector.