The Coca-Cola Company on Friday confirmed that Nigeria’s Federal Competition and Consumer Protection Commission (FCCPC) has approved the sale of Chivita|Hollandia (CHI Limited) to UAC of Nigeria PLC, completing a transaction first announced in July.
The deal transfers ownership of CHI Limited, a major player in Nigeria’s food and beverage sector known for its juice and dairy brands, from Coca-Cola to UAC. Financial terms of the agreement were not disclosed.
“We are pleased to have received regulatory approval for this transaction,” Managing Director of Chivita|Hollandia, Eelco Weber, said in a statement. “We look forward to a smooth transition and to seeing Chivita|Hollandia thrive under UAC’s ownership.”
Coca-Cola first entered CHI in 2016 with a 40 per cent stake and assumed full control in 2019 after acquiring the remaining shares.
Commenting on the acquisition, UAC Group Managing Director, Fola Aiyesimoju, said: “We are excited to officially welcome the Chivita|Hollandia team and brands into the UAC family, and we are eager to work together to build on their strong legacy and market leadership.”
UAC of Nigeria is one of the country’s oldest conglomerates, with operations spanning manufacturing, marketing, and distribution of consumer goods. It runs nine production facilities and several logistics hubs across Nigeria, employing about 5,000 people.
CHI Limited, incorporated in 1980, has grown into one of Nigeria’s leading food and beverage companies. Its portfolio includes Chivita juices, Hollandia dairy products, nectars, and snacks, supported by ISO 22000-certified facilities.
The sale underscores ongoing consolidation in Nigeria’s consumer goods market, as local and international firms seek to strengthen their positions amid rising competition and changing consumer demand.
