UAC of Nigeria PLC (UAC) has officially finalized the acquisition of Chivita|Hollandia (CHI Limited), following regulatory approval from the Federal Competition and Consumer Protection Commission (FCCPC).
In a notice filed with the Nigerian Exchange Group (NGX) on Friday, UAC confirmed that the transaction, first announced on July 30, 2025, has now been fully concluded. The move marks a significant expansion for UAC into Nigeria’s juice and dairy segments, both of which are rapidly growing within the fast-moving consumer goods (FMCG) landscape.
Leadership Reactions: A New Chapter Begins
Eelco Weber, Managing Director of CHI Limited, welcomed the development, expressing confidence in the company’s future under UAC ownership.
“We are pleased to have received regulatory approval for this transaction. We look forward to a smooth transition and to seeing Chivita|Hollandia thrive under UAC’s ownership,” Weber said.
Also commenting, Fola Aiyesimoju, Group Managing Director of UAC, highlighted the strategic importance of the acquisition.
“We are excited to officially welcome the Chivita|Hollandia team and brands into the UAC family. Their strong market position and legacy perfectly align with our growth agenda,” Aiyesimoju stated.
What This Means for UAC
With this acquisition, UAC adds two of Nigeria’s most recognized consumer brands Chivita and Hollandia to its portfolio, along with a robust nationwide distribution network. The company says this strengthens its competitive edge in a market increasingly driven by brand trust, reach, and product innovation.
UAC also emphasized that the acquisition reflects its broader strategy of investing in market-leading brands and unlocking long-term value across the consumer goods value chain.
What About Coca-Cola?
Prior to the deal, The Coca-Cola Company held a significant stake in CHI Limited. The sale supports Coca-Cola’s global shift toward an asset-light model, where it focuses on high-scale brand building while divesting from capital-intensive operations.
Despite the divestment, Coca-Cola reaffirmed its commitment to the Nigerian market, announcing plans to invest $1 billion over five years, subject to a stable and enabling business climate.
Strategic Growth in a Changing Market
As competition intensifies in Nigeria’s FMCG space, UAC’s move to acquire CHI Limited positions it as a stronger player in a sector increasingly influenced by changing consumer preferences, urbanization, and health-conscious choices.
The acquisition also gives UAC an advantage in offering ready-to-drink juice, yogurt, and dairy beverages, tapping into growing demand for nutritious and convenient products among Nigerian consumers.
