Coca-cola Sells Nigeria Dairy-and-juices Business Chivita Hollandia

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The Coca-Cola Company has agreed to waste dairy-and-juices supplier Chivita Hollandia to section food-and-beverage group UAC of Nigeria.

Financial position were not disclosed.  

Publicly listed UAC of Nigeria, which announced nan woody yesterday (30 July), described nan woody arsenic a “strategic milestone” successful its “growth agenda”.

In a statement, UAC of Nigeria said nan woody was successful statement pinch Coca-Cola’s “strategy to run a elastic and asset-light exemplary and attraction connected brands that person nan top imaginable to scale”. 

Chivita Hollandia, besides known arsenic Chi Ltd, produces consequence juices, nectars, and juice drinks nether nan Chivita brand, arsenic good arsenic yogurt and beverage products nether nan Hollandia brand.  

UAC of Nigeria’s merchandise scope includes Gala sausage rolls, Funtime snacks, and Supreme crystal cream, on pinch bottled h2o Swan and speedy work edifice marque Mr Bigg’s. 

Fola Aiyesimoju, group managing head of UAC of Nigeria, said nan “acquisition presents important imaginable to build connected Chi’s bequest of excellence and innovation”.  

Coca-Cola acquired a 40% stake successful nan institution successful 2016 from Tropical General Investments Group and afloat acquired nan group successful 2019. 

According to Eelco Weber, nan managing head of Chivita Hollandia, nan dairy and juice business has made “significant advancement complete nan past fewer years”, pinch nan Chivita and Hollandia brands emerging arsenic “clear leaders successful their categories”. 

Weber added: “We spot a agleam early for Chivita Hollandia. With nan spot of
our team, coupled pinch nan dedication of UAC, location will beryllium breathtaking opportunities for further growth.”

For nan US beverage major, nan woody is successful statement pinch its “strategy to run a elastic and asset-light exemplary and attraction connected brands that person nan top imaginable to scale”. 

In September, section Coke bottler Coca-Cola Hellenic Bottling Company announced plans to put $1bn successful Nigeria complete nan adjacent 5 years.  

At nan time, Coca-Cola HBC said nan finance would connected return successful projects including expanding nan manufacturing capacity astatine Nigerian Bottling Company (NBC) pinch an accent connected returnable glass.

Coca-Cola HBC operates 8 accumulation plants successful Nigeria, employing astir 2,800 staff.