UAC of Nigeria Plc has reached a deal to take over Chivita and Hollandia from The Coca-Cola Company, a move that could reshape the food and drink market in Nigeria. The agreement, confirmed in a corporate filing to the Nigerian Exchange on Wednesday, is still awaiting regulatory clearance.
The acquisition will bring two of the country’s most recognisable consumer brands back under Nigerian control, after years in the hands of global investors.
UAC’s Group Managing Director, Fola Aiyesimoju, said the deal was about more than growth. “This is a strategic step for us,” he said. “We are proud to welcome Chivita and Hollandia into our fold. These brands are deeply trusted by Nigerians and this gives us a strong platform to expand further in food and beverages.”
CHI Limited, which owns the Chivita and Hollandia brands, operates across fruit juices, value-added dairy, and snack categories. It employs over 5,000 people and is widely seen as a leader in its sector.
Managing Director of CHI Limited, Eelco Weber, praised his team and spoke positively about the company’s future. “We’ve built strong brands and a strong business,” he said. “With UAC’s support, we are confident about what comes next.”
UAC described the transaction as a “milestone” in its plan to strengthen its role in Nigeria’s fast-moving consumer goods space. The company’s recent strategy has focused on consolidating key assets and building local capacity across its business units.
Legal and financial advisory teams involved in the deal included Fasken Martineau and Templars for UAC, with Citi advising Coca-Cola and McDermott Will & Emery as legal counsel.
Coca-Cola, in a statement on the deal, said the decision aligns with its plan to adopt a lighter asset model and focus on scalable brands.
“We remain committed to Nigeria,” the company added. “We’ve announced a $1 billion investment plan over the next five years, dependent on stable and supportive economic conditions.”
