Royal News

Tag: Coca-Cola

  • FCCPC Approves Sale Of Chivita|Hollandia To UAC Nigeria

    FCCPC Approves Sale Of Chivita|Hollandia To UAC Nigeria

    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.

  • Cristiano Ronaldo snub sees Coca-Cola market value fall by $4bn

    Cristiano Ronaldo snub sees Coca-Cola market value fall by $4bn


    Cristiano Ronaldo’s removal of two Coca-Cola bottles at a Euro 2020 news conference coincided with a $4 billion drop in the share price of the American drink giant.

    The Portugal captain was visibly troubled when he saw two bottles of the carbonated soft drink in front of him as he sat down to speak to the media on Monday in Budapest ahead of his national team’s Group F opener against Hungary.

    Ronaldo, an advocate of a healthy diet, moved the glass bottles out of the camera frame and instead held up a bottle of water in while he said in Portuguese: “Water!”

    Coca-Cola saw their share price dropped by 1.6% to $55.22 soon after Ronaldo’s actions. The market value went from $242bn to $238bn — a $4bn drop.

    Coca-Cola, an official sponsor of Euro 2020, responded in a statement that “everyone is entitled to their drink preferences” with different “tastes and needs.”

    Coca-Cola company has 200 brands worldwide, including different types of water. A Euro 2020 spokesperson said: “Players are offered water, alongside Coca-Cola and Coca-Cola Zero Sugar, on arrival at our press conferences.”

    It added that without the support of brands like Coca-Cola “we could not organise a tournament with such success for players and fans, nor invest in the future of football at all levels.”

    Coca-Cola’s partnership with UEFA goes back to 1988 with the company having “a long tradition of supporting all sports at its various levels” and which has allowed “investment in football at all levels.”

    On Tuesday, France midfielder Paul Pogba removed a bottle of Heineken beer that had been placed in front of him at a news conference following the 1-0 win over Germany in Munich.

    Pogba, a practising Muslim, removed the bottle when he sat down to speak to the media after he was named man of the match.

    Ronaldo, 36, became the leading scorer in European Championship history with 11 goals as he netted twice on Tuesday. The Juventus forward struck twice in Portugal’s 3-0 win over Hungary in what was his record fifth tournament appearance.

    The defending champions had to wait until the 84th minute to break the deadlock. Ronaldo shared a message with his almost 300 million Instagram followers about resilience.

    The Five-time Ballon d’Or winner wrote: “You have to know how to suffer, fight to the end and always believe with all your strength. There are no easy opponents or games won straight away.

    “The European Championship is a luxury stage where only the best of the best are present and where every victory has to be won with all the determination and selflessness. Big win, team!”