The Coca-Cola Company has announced plans to sell Chivita|Hollandia (CHI Limited) to UAC of Nigeria PLC, according to a press release issued on July 30, 2025.
CHI Limited, described as a leading food and beverage company in Nigeria, owns well-known brands such as Hollandia and Chivita. Hollandia is the market leader in evaporated milk and drinking yoghurt, while Chivita leads in the fruit juice category.
Coca-Cola said the decision is in line with its global strategy to adopt a “flexible and asset-light model,” allowing it to focus on brands with the highest growth potential. The company reaffirmed its commitment to Nigeria, noting its recently announced $1 billion investment plan over five years, pending a stable and supportive business environment.
The transaction is subject to regulatory approval.
UAC of Nigeria PLC, a major domestic consumer goods holding company, is the buyer. The company operates nine manufacturing plants and several logistics and distribution centers across Nigeria, with a workforce of over 5,000.
Fola Aiyesimoju, Group Managing Director of UAC, said the acquisition offers an opportunity to build on CHI Limited’s legacy. “As a company with a strong presence in Africa, we are deeply committed to the continent’s growth. This acquisition presents significant potential to build on Chivita|Hollandia’s legacy of excellence and innovation,” he stated.
CHI Limited’s Managing Director, Eelco Weber, expressed appreciation for the company’s employees and voiced optimism about the transition. “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,” he said. “With the strength of our team, coupled with the dedication of UAC, there will be exciting opportunities for further growth.”
Citi served as exclusive financial advisor to The Coca-Cola Company. Legal counsel was provided by McDermott Will & Emery for Coca-Cola, while UAC was advised by Fasken Martineau LLP and Templars Law.
