July 30, 2025 - The Coca-Cola Company has announced that it has reached an agreement to sell Chivita|Hollandia (CHI Limited), a leading Nigerian food and beverage company, to UAC of Nigeria PLC. The transaction, which is subject to regulatory approval, marks a strategic move in Coca-Cola’s global strategy to operate a more flexible and asset-light business model focusing on brands with high growth potential.
Chivita and Hollandia are dominant brands in Nigeria’s market Hollandia leads in evaporated milk and drinking yoghurt, while Chivita is the top fruit juice brand. UAC, a major Nigerian holding company with operations in manufacturing, marketing, and distribution across Africa, plans to build on CHI Limited’s legacy of excellence and innovation and leverage its strong local presence. UAC employs around 5,000 people and operates multiple manufacturing and distribution hubs across Nigeria.
Fola Aiyesimoju, Group Managing Director of UAC, expressed optimism about the acquisition’s potential to accelerate growth. Eelco Weber, Managing Director of CHI Limited, praised the progress and market leadership of Chivita and Hollandia and highlighted the dedication of the workforce, noting their recognition as a Gold-rated Great Place to Work.
The deal underscores Coca-Cola’s ongoing commitment to Nigeria, with the company planning to invest $1 billion in the Nigerian market over five years, contingent on a conducive business environment.
Legal and financial advisors on the transaction include Citi for Coca-Cola and Fasken Martineau LLP and Templars Law for UAC.