UAC Of Nigeria Strengthens FMCG Dominance with Acquisition Of Chivita|Hollandia From Coca-Cola.
UAC of Nigeria PLC has announced a landmark agreement to acquire Chivita|Hollandia (CHI Limited), a leading food and beverage company, from The Coca-Cola Company. The deal, disclosed on Wednesday, 30 July 2025, in a filing with the Nigerian Exchange Limited (NGX), marks a significant step in UAC’s strategy to expand its footprint in Nigeria’s fast-moving consumer goods (FMCG) sector, pending regulatory approval.
CHI Limited, established in Lagos in 1980, is a powerhouse in Nigeria’s food and beverage industry, renowned for its market-leading brands. The Hollandia brand dominates the evaporated milk and drinking yoghurt categories, while Chivita holds the top spot in fruit juices. The company’s diverse portfolio also includes nectars, still drinks, and snacks, produced across ISO 22000-certified manufacturing facilities. With over 5,000 employees, CHI Limited has earned accolades for its workplace culture, securing a Gold-rated Great Place to Work certification in 2024.
Fola Aiyesimoju, Group Managing Director of UAC, hailed the acquisition as a transformative opportunity. “We are deeply committed to Africa’s growth and are thrilled to acquire Chivita|Hollandia, a leading dairy and juice business,” he said. “This deal builds on CHI Limited’s legacy of excellence and innovation, and we look forward to working with its team to drive the next phase of growth.” UAC, a holding company with nine manufacturing facilities and extensive logistics networks across Nigeria, employs 5,000 workers and is well-positioned to scale CHI’s operations.
The Coca-Cola Company, which fully acquired CHI Limited in 2019 after a minority stake purchase in 2016, stated that the sale aligns with its strategy to adopt a flexible, asset-light model, focusing on brands with the greatest potential for global scaling. Despite the divestiture, Coca-Cola reaffirmed its commitment to Nigeria, announcing a $1 billion investment plan over the next five years, contingent on a stable operating environment. Eelco Weber, Managing Director of CHI Limited, expressed optimism about the transition, saying, “With the strength of our team and UAC’s dedication, we see a bright future for Chivita|Hollandia.”
The acquisition has sparked enthusiasm in Nigeria’s business community, with analysts viewing it as a vote of confidence in the country’s FMCG market. The deal, advised by Citi and McDermott Will & Emery for Coca-Cola and Fasken Martineau LLP and Templars Law for UAC, underscores the growing appeal of African consumer markets. For Nigerian consumers, the move promises continued access to trusted brands like Chivita and Hollandia, now backed by UAC’s robust infrastructure, heralding a new chapter of innovation and growth.