The Coca-Cola Company Completes Acquisition of Chi Ltd. in Nigeria

Proshare

Saturday, February 02, 2019 5.00PM / Coca Cola

 

Coca-Cola Expands Minority Investment to Full Ownership of Africa’s Leading Producer of Juice and Value-Added Dairy Beverages. 

The Coca-Cola Company last week announced that it has completed its acquisition of Chi Ltd. in Nigeria. Coca-Cola first announced a minority investment in Chi three years ago and, as planned, has now acquired full ownership of the company. 

Chi is recognized in West Africa as an innovative, fast-growing leader in expanding beverage categories, including juices, value-added dairy and iced tea. The company, founded in Lagos, Nigeria, in 1980, produces juice under the Chivita brand and value- added dairy under the Hollandia brand, among many other products. Coca-Cola acquired a 40 percent stake in Chi in 2016 from Tropical General Investments Group, the holding company for Chi Ltd. Juices and value-added dairy categories rank among the fastest-growing beverage segments in Nigeria and Africa. 

This acquisition further signals Coca-Cola’s optimism about Africa’s consumer opportunity and a commitment to its long-term investment and growth plan on the continent, where it has been present for more than 90 years. 

“Coca-Cola is continuing to evolve as a total beverage company, and Chi’s diverse range of beverages perfectly complements our existing portfolio, enabling us to accelerate expansion into new categories and grow our business in Africa,” said Peter Njonjo, president of the West Africa business unit of Coca-Cola. “We will support the Chi management team in building on the company’s remarkable heritage and achievements, while using the scale of the Coca-Cola system to replicate their success in more markets across Africa.” 

Proshare Nigeria Pvt. Ltd.

About The Coca-Cola Company 

The Coca-Cola Company (NYSE: KO) is a total beverage company, offering over 500 brands in more than 200 countries and territories. In addition to the company’s 

Coca-Cola brands, our portfolio includes some of the world’s most valuable beverage brands, such as AdeS soy-based beverages, Ayataka green tea, Costa coffee, Dasani waters, Del Valle juices and nectars, Fanta, Georgia coffee, Gold Peak teas and coffees, Honest Tea, innocent smoothies and juices, Minute Maid juices, Powerade sports drinks, Simply juices, smartwater, Sprite, vitamin water and ZICO coconut water. 

We’re constantly transforming our portfolio, from reducing sugar in our drinks to bringing innovative new products to market. We’re also working to reduce our environmental impact by replenishing water and promoting recycling. With our bottling partners, we employ more than 700,000 people, helping bring economic opportunity to local communities worldwide.

 

Proshare Nigeria Pvt. Ltd.


Related News

1.         Access Bank Gets CBN, SEC’s Approval To Acquire Diamond Bank

2.        Access Bank to have 12million BVN Accounts After Merger with Diamond

3.        CCNN Receives SEC Approval To Merge With Kalambaina Cement Company Limited

4.        Access Bank To Hold An EGM On February 01 2019 To Seek Shareholders’ Approval on Potential Merger

5.        Access – Diamond Merger: Post-Consolidation, Capital Raise, Jobs, Branches And Investors

6.        Initial Thoughts on Potential Merger To Create Nigeria’s Largest Bank

7.        SEC Nigeria Confirms Notice Of Access - Diamond Bank Potential Merger Plans

8.       Diamond Bank Selects Access Bank As Preferred Bidder For Potential Merger

9.        ACCESS, DIAMONDBNK Share Prices Move Up On Potential Merger News

10.    Access Bank Confirms The Signing of Memo of Agreement with Diamond Bank Over A Potential Merger

11.     Why Diamond Bank Opted For A CBN-Managed Acquisition By Access Bank Over The Carlyle Group


Proshare Nigeria Pvt. Ltd.

Proshare Nigeria Pvt. Ltd.

Proshare Nigeria Pvt. Ltd.

READ MORE:
Related News
SCROLL TO TOP