UAC acquires Chivita, Hollandia from The Coca-Cola Company

UAC of Nigeria PLC (UAC) has announced an agreement to acquire Chivita|Hollandia (CHI Limited) from The Coca-Cola Company. This marks a strategic milestone in UAC’s expansion into Nigeria’s fast-moving consumer goods (FMCG) sector.

CHI Limited, known for its Hollandia and Chivita brands, holds leading positions in the country’s value-added dairy and fruit juice markets. Hollandia is the market leader in evaporated milk and drinking yoghurt, while Chivita dominates the fruit juice category.

The deal, which is still subject to regulatory approval, aligns with Coca-Cola’s global shift towards a more flexible and asset-light operating model. It also underscores UAC’s renewed growth drive and long-term confidence in Nigeria’s consumer market.

“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,” said Fola Aiyesimoju, Group Managing Director of UAC. “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.”

The Coca-Cola Company emphasised that the divestiture does not signal a retreat from Nigeria. Rather, it reflects a pivot in business strategy. The beverage giant recently announced a planned $1 billion investment in Nigeria over the next five years, which it says will continue “provided a predictable and enabling environment is in place.” The company described Africa as a “long-term growth opportunity” for its global system.

CHI Limited’s management expressed optimism about the deal, praising the progress made in recent years.

“The business has made significant progress over the past few years, with the Chivita and Hollandia brands becoming clear leaders in their categories,” said Eelco Weber, Managing Director of CHI Limited. “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 added: “We see a bright future for Chivita|Hollandia (CHI Limited). With the strength of our team, coupled with the dedication of UAC, there will be exciting opportunities for further growth.”

Legal advisors on the transaction include Fasken Martineau LLP and Templars for UAC, while Citi acted as exclusive financial advisor to Coca-Cola, with McDermott Will & Emery providing legal counsel.

The acquisition signals UAC’s intent to deepen its footprint in Nigeria’s competitive FMCG landscape while Coca-Cola continues its shift toward high-impact brand management and strategic investments.