Stakeholders of Chi Limited and their consumers have been assured of continued high standard in the company’s products quality. Coca-Cola made the assurance after the takeover process was completed some days ago.
The President of Coca-Cola West Africa, Peter Njonjo, said the Group was committed to introducing the Chi products to the global market, extending the frontiers of the Chi brand beyond its present markets by expanding the company’s business focus.
Coca-Cola had completed the acquisition of Chi Limited from Tropical General Investments Group (TGI Group) in late January 2019, after a binding agreement which saw Coca-Cola Company acquire an initial minority equity shareholding in Chi Limited in 2016, with plans to increase ownership to 100 per cent within three years, subject to regulatory approvals.
Njonjo clarified that Coca-Cola has no intention to apply a fundamental change, assuring that the quality would not be tampered with, while Coca-Cola will build on the company’s achievement with the existing system.
“By coming in, Coca-Cola’s mission is not to effect any fundamental change but to build on the existing works on the various products.
“I can assure consumers that under the Coca-Cola Group, the existing products will be taken to the world. Besides, the quality will not also be tampered with rather, more value will be added.
“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.”
Similarity in products
Njonjo said the similarity in Coca-Cola and Chi Limited’s products would accelerate the expansion of Chi products into the global market. Adding that Chi Limited would continue to operate as an independent company with no interference from Coca-Cola.
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“The acquisition is a testament to the commitment of the company being a total beverage company, and the desire to grow the Chi products into a global billion-dollar brand, that will meet the needs of the customers satisfactorily.”
“We will not tamper with the brand in any form, the management of the Chi Limited will operate as before but rather we will grow both the Chi and the Hollandia units of the products and support Chi management team in building on the company’s remarkable heritage and achievement, while using the coca-cola system to replicate their success in more markets across Africa,” he said.