UAC of Nigeria To Acquire Chivita|Hollandia From Coca-Cola Company

UAC of Nigeria PLC has entered into an agreement to acquire leading food and beverage company Chivita|Hollandia (CHI Limited) from The Coca-Cola Company, pending regulatory approval.

In a statement submitted to the Nigerian Exchange on Wednesday, UAC described the acquisition as a strategic move to strengthen its footprint in Nigeria’s fast-moving consumer goods sector. CHI Limited owns popular brands like Hollandia and Chivita, with a wide portfolio spanning juices, dairy products, still drinks, and snacks.

UAC Group Managing Director Fola Aiyesimoju said the acquisition reflects UAC’s commitment to Africa’s growth and provides an opportunity to build on CHI Limited’s legacy of excellence and innovation. He expressed excitement about working with the existing team to support the company’s next growth phase.

CHI Limited Managing Director Eelco Weber also praised the company’s progress in recent years, noting that Chivita and Hollandia are now category leaders. He credited the company’s 5,000+ employees for their contribution and reaffirmed confidence in the brand’s future under UAC’s leadership.

Legal advisory services for UAC were provided by Fasken Martineau LLP and Templars, while Citi served as the exclusive financial advisor to Coca-Cola, supported by McDermott Will & Emery as legal counsel.

The Coca-Cola Company stated that the transaction aligns with its strategy of maintaining a flexible, asset-light model and focusing on scalable brands. It also reiterated its commitment to invest $1 billion in Nigeria over the next five years—contingent on a stable and supportive business environment.