The Coca-Cola Company has entered into an agreement to sell Chivita|Hollandia (CHI Limited), the producer of the popular Chivita juice and Hollandia dairy brands, to UAC of Nigeria PLC (UAC), in a landmark transaction that will reshape Nigeria’s food and beverage landscape.
According to a statement signed by Zainab Obagun, Head of Public Affairs & Communications at CHI Limited, the deal is subject to regulatory approval and will see UAC acquire one of Nigeria’s leading juice and dairy businesses.
CHI Limited dominates the market with:
Hollandia – Market leader in evaporated milk and drinking yoghurt
Chivita – Leading fruit juice and nectar brand in Nigeria
Coca-Cola noted that the divestment aligns with its global asset-light strategy, which focuses on scalable brands while leveraging strategic partnerships and bottling networks for operations.
“This transaction further supports The Coca-Cola Company’s strategy to operate a flexible and asset-light model, focusing on brands with the greatest potential to scale,” the company said.
Despite the sale, Coca-Cola reaffirmed its long-term commitment to Nigeria, referencing its $1 billion investment plan over five years, contingent on a predictable and enabling business environment.
UAC, one of Nigeria’s oldest and most diversified consumer goods companies, sees the acquisition as a strategic expansion of its food and beverage portfolio.
“We are pleased to announce the acquisition of Chivita|Hollandia (CHI Limited), a leading dairy and juice business in the region,” said Fola Aiyesimoju, Group Managing Director of UAC.
“This acquisition presents significant potential to build on Chivita|Hollandia’s legacy of excellence and innovation.”
Eelco Weber, Managing Director of CHI Limited, lauded the company’s 5,000 employees for cementing the brands as market leaders and a Gold-rated “Great Place to Work.” He expressed optimism that the brands will thrive under UAC’s ownership.
Advisers and Transaction Support
Coca-Cola: Citi (Exclusive Financial Adviser), McDermott Will & Emery (Legal Counsel)
UAC: Fasken Martineau LLP and Templars Law (Legal Advisers
The transaction underscores rising consolidation in Nigeria’s consumer goods sector, as local conglomerates expand their footprint in a competitive, high-demand market.
