The Coca-Cola Company Announces Sale of Chivita|Hollandia (CHI Limited) to UAC of Nigeria PLC
Lagos, Nigeria, July 30, 2025 — The Coca-Cola Company has entered into an agreement to sell Chivita|Hollandia (CHI Limited), a leading Nigerian food and beverage company, to UAC of Nigeria PLC (UAC), a prominent holding company focused on manufacturing, marketing, and distribution in Africa. The transaction, subject to regulatory approval, aligns with Coca-Cola’s strategy to maintain a flexible, asset-light model and prioritize brands with high scalability potential.
Founded in 1980 in Lagos, CHI Limited has grown into a market leader in Nigeria’s fruit juice, value-added dairy, and snack categories, with flagship brands Chivita and Hollandia dominating the fruit juice and evaporated milk/drinking yogurt markets, respectively. The company, fully acquired by Coca-Cola in 2019 after an initial 40% stake purchase in 2016, is recognized for its innovative products, including Nigeria’s first lactose-free milk and its long-standing partnership with Capri-Sun.
UAC, operating nine manufacturing facilities and several logistics hubs across Nigeria with 5,000 employees, views the acquisition as a strategic move to strengthen its presence in the fast-moving consumer goods (FMCG) sector. Fola Aiyesimoju, Group Managing Director of UAC, expressed enthusiasm about building on CHI Limited’s legacy of excellence, stating, “This acquisition presents significant potential to drive growth and innovation.”
The Coca-Cola Company remains committed to Nigeria, recently announcing a $1 billion investment over five years, contingent on a predictable and enabling business environment. Eelco Weber, Managing Director of CHI Limited since 2021, highlighted the company’s bright future under UAC’s stewardship, citing its strong team and growth prospects.
The sale reflects Coca-Cola’s strategic pivot to focus on scalable brands while reinforcing UAC’s position in Africa’s consumer market. Financial and legal advisors for the transaction include Citi, McDermott Will & Emery, Fasken Martineau LLP, and Templars Law.
For further inquiries, contact Zainab Obagun, Head of Public Affairs & Communications at CHI Limited, at chicares@chilimited.com or +234 913 933 0813.