In a major shakeup within Nigeria’s food and beverage industry, The Coca-Cola Company has finalized the sale of one of the country’s top consumer goods players, CHI Limited—owner of the popular Chivita and Hollandia brands—to UAC of Nigeria Plc. The transaction was confirmed in a statement issued on Wednesday by Mrs. Zainab Obagun, Coca-Cola’s Head of Public Affairs and Communications.
CHI Limited, known for its dominant presence in the juice and dairy sectors, operates a strong portfolio that includes fruit juices, nectars, still drinks, snacks, and a variety of value-added dairy products. Its flagship brands—Chivita and Hollandia—command leading market shares in fruit juice and dairy beverages respectively, with Hollandia notably recognized as a top brand in evaporated milk and drinking yoghurt.
The acquisition, which is pending regulatory approval, underscores Coca-Cola’s continued shift toward a leaner, asset-light business model that prioritizes scalability and brand focus over direct ownership of manufacturing operations.
Speaking on the strategic deal, Mr. Fola Aiyesimoju, Group Managing Director of UAC of Nigeria Plc, highlighted the alignment of the acquisition with UAC’s growth ambitions across the continent. “Our roots run deep in African enterprise, and this acquisition reflects our enduring belief in the continent’s economic potential,” he said.
Aiyesimoju emphasized that UAC views this move as an opportunity to build upon CHI Limited’s well-established legacy. “We are excited to bring Chivita and Hollandia into the UAC portfolio. These are household names built on quality, consistency, and innovation. We’re eager to support the business into its next chapter of development.”
He also extended appreciation to the CHI Ltd. team, adding, “I commend the management and workforce for building such a respected brand. We’re looking forward to a collaborative journey.”
Mr. Eelco Weber, Managing Director of CHI Limited, also expressed optimism about the company’s future under new ownership. “Chivita and Hollandia are undisputed leaders in their respective segments,” he stated. “This achievement is owed to the relentless efforts of our 5,000+ staff members. Their dedication has not only driven growth but also earned us recognition as a Gold-rated Great Place to Work.”
Weber added, “With UAC’s backing and the strength of our people, we are poised to unlock new levels of innovation, distribution, and customer reach. The horizon looks bright for CHI Ltd.”
While the financial terms of the acquisition remain undisclosed, industry observers view the deal as a signal of renewed investment confidence in Nigeria’s consumer goods sector, despite ongoing economic challenges.
The sale of CHI Ltd. marks a pivotal chapter for Coca-Cola, which first acquired a majority stake in the company in 2016 and had steadily integrated its operations into its West African beverage strategy. Now, with UAC taking the reins, the industry awaits the next wave of transformation under Nigerian ownership.
