The Coca-Cola Company has sold its stake in Nigerian food and beverage company, CHI Limited to UAC of Nigeria Plc (UAC).
UAC announced on July 30 that it had reached an agreement to purchase CHI Limited, the company that makes Hollandia and Chivita. The transaction was completed, according to a statement released by UAC on Friday by company secretary Ayomipo Wey.
According to the company, the acquisition was finalised after the Federal Competition and Consumer Protection Commission (FCCPC) gave its approval. The Managing Director (MD) of CHI Limited, Eelco Weber, expressed his satisfaction with the transaction’s regulatory approval.
Continuing, Weber had this to say: “We look forward to a smooth transition and to seeing Chivita|Hollandia (CHI Limited) thrive under UAC’s ownership.”
Fola Aiyesimoju, UAC’s group MD, added that the company is thrilled to formally welcome the CHI Limited team and brands into the UAC family and is looking forward to collaborating with them to expand on their solid history and market leadership, BrandSpur news brand reports.
