The Coca-Cola Company today sold Chivita|Hollandia (CHI Limited) to UAC of Nigeria PLC (UAC). Chivita|Hollandia (CHI Limited) is a leading food and beverage player in Nigeria, with a portfolio across value-added dairy products, juices, nectars, still drinks, and snacks. The Hollandia brand is a market leader in evaporated milk and drinking yoghurt, while the Chivita brand is a market leader in fruit juice.
This transaction carried out earlier today, is subject to regulatory approval and further supports The Coca-Cola Company’s strategy to operate a flexible and asset-light model and focus on brands that have the greatest potential to scale. The Coca-Cola system recently announced it will invest $1 billion in Nigeria over five years and remains committed to these investments, provided a predictable and enabling environment is in place. This investment underscores the importance of Africa as a long-term growth opportunity for the Coca-Cola system.
UAC is a holding company focused on domestic manufacturing, marketing, and distribution of leading consumer brands in Africa. The company operates nine manufacturing facilities and several logistics and distribution hubs across Nigeria, with 5,000 employees.
Fola Aiyesimoju, Group Managing Director of UAC, said: “As a company with a strong presence in Africa, we are deeply committed to the continent’s growth. We are pleased to announce the acquisition of Chivita|Hollandia (CHI Limited), a leading dairy and juice business in the region. This acquisition presents significant potential to build on Chivita|Hollandia’s (CHI Limited’s) legacy of excellence and innovation. I would like to thank the management and staff of Chivita|Hollandia (CHI Limited) and look forward to working with the team to support the next phase of growth.”
Eelco Weber, Managing Director of Chivita|Hollandia (CHI Limited), said the business has made significant progress over the past few years, with the Chivita and Hollandia brands becoming clear leaders in their categories. “I would like to thank our over 5,000 employees for their hard work and dedication in bringing our business forward and earning us recognition as a Gold-rated Great Place to Work,” Weber said.
The management team, including Weber, is confident in the company’s growth prospects. “We see a bright future for Chivita|Hollandia (CHI Limited),” Weber said. “With the strength of our team, coupled with the dedication of UAC, there will be exciting opportunities for further growth.”
Citi served as the exclusive financial advisor to The Coca-Cola Company, with McDermott Will & Emery acting as legal advisor. Fasken Martineau LLP and Templars Law served as legal advisors to UAC.
Incorporated in 1980, Chivita|Hollandia (CHI Limited) was established as a local producer of high-quality food and beverage products for Nigerian consumers. The company was fully acquired by The Coca-Cola Company in 2019. Chivita|Hollandia (CHI Limited) champions innovation and supports economic growth through state-of-the-art, ISO 22000-certified manufacturing. Recognised as a Great Place To Work in 2023 and Gold certified in 2024, our flagship brands—Chivita and Hollandia—offer a wide range of fruit juices and value-added dairy beverages to meet evolving consumer needs.