UAC of Nigeria PLC has agreed to acquire CHI Limited, makers of Chivita and Hollandia, from The Coca-Cola Company. The deal strengthens UAC’s position in Nigeria’s fast-moving consumer goods sector.

The announcement came in a filing to the Nigerian Exchange Limited on Wednesday. It marks a major step in UAC’s growth strategy.

CHI Limited is a key player in Nigeria’s food and beverage space. Specifically, its products include juices, dairy drinks, still beverages, and snacks.

UAC’s Group Managing Director, Fola Aiyesimoju, said the deal aligns with UAC’s focus on growth in Africa.

“As a company with a strong presence in Africa, we are deeply committed to the continent’s growth,” he said. “We are pleased to announce the acquisition of Chivita|Hollandia (CHI Limited), a leading dairy and juice business in the region.”

He added that UAC will build on the company’s legacy of 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.”

CHI’s Managing Director, Eelco Weber, praised the progress the company has made.

“The business has made significant progress over the past few years, with the Chivita and Hollandia brands becoming clear leaders in their categories.”

He also acknowledged the workforce: “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 expressed confidence in the company’s future.

“With the strength of our team, coupled with the dedication of UAC, there will be exciting opportunities for further growth.”

Legal advisors for UAC included Fasken Martineau LLP and Templars. Citi advised Coca-Cola on the transaction, while McDermott Will & Emery served as its legal counsel.

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UAC described the deal as a strategic milestone. It helps the company deepen its FMCG footprint.

Coca-Cola said the sale fits its plan to stay lean and focus on scalable brands.

“The Coca-Cola system recently announced it will invest $1 billion in Nigeria over five years and remains committed to these investments, provided a predictable and enabling environment is in place,” the statement read. “This investment underscores the importance of Africa as a long-term growth opportunity for the Coca-Cola system.”

The acquisition opens a new chapter for both firms. It reflects rising interest in Africa’s consumer goods market.