UAC of Nigeria PLC (UAC) announced in a press release on October 3, 2025, that it has completed the acquisition of Chivita|Hollandia (CHI Limited), following approval from the Federal Competition and Consumer Protection Commission (FCCPC).
The transaction, first disclosed on July 30, 2025, involves the transfer of ownership of CHI Limited, a leading Nigerian food and beverage company best known for its market-dominant Chivita juice and Hollandia dairy brands, to UAC.
Commenting on the development, Eelco Weber, Managing Director of CHI Limited, expressed optimism about the company’s future under UAC’s ownership.
“We are pleased to have received regulatory approval for this transaction. We look forward to a smooth transition and to seeing Chivita|Hollandia thrive under UAC’s ownership,” he said.
Fola Aiyesimoju, Group Managing Director of UAC, highlighted the strategic importance of the acquisition. “We are excited to officially welcome the Chivita|Hollandia team and brands into the UAC family, and we are eager to work together to build on their strong legacy and market leadership,” he stated.
The acquisition is expected to strengthen UAC’s position in Nigeria’s fast-moving consumer goods (FMCG) sector, expanding its footprint into the growing juice and dairy markets.
Backstory
The deal represents a strategic milestone for UAC, aimed at strengthening its position in Nigeria’s fast-moving consumer goods (FMCG) sector.
CHI Limited is one of Nigeria’s leading food and beverage companies, with strong brand portfolios across value-added dairy products, juices, nectars, still drinks, and snacks. Its Hollandia brand dominates the evaporated milk and drinking yoghurt categories, while Chivita leads the fruit juice market.
UAC said that the acquisition aligns with its growth agenda by adding two market-leading brands and a well-established distribution network to its portfolio.
For The Coca-Cola Company, the transaction supports its global strategy to adopt a more asset-light model while focusing on high-scale brands. Coca-Cola had reiterated its commitment to Nigeria, with plans to invest $1 billion over five years, contingent on a stable and supportive business environment.
What you need to know
The announcement of UAC of Nigeria PLC’s acquisition of Chivita|Hollandia followed the release of its half-year 2025 financial results, which reflected strong topline growth but a mixed earnings picture.
Revenue climbed 33% year-on-year to N110.4 billion, representing 56% of the company’s 2024 full-year turnover.
Operating profit surged to N12.59 billion, nearly double the H1 2024 figure, reflecting improved core performance.
However, while pre-tax profit declined 25% to N11.1 billion, Group Finance Director Funke Ijaiya-Oladipo explained that the drop was primarily due to the absence of foreign exchange gains that had lifted earnings in the prior year.
On the capital market front, UAC’s share price has been on a remarkable run.
From a 30% year-to-date gain in June, the stock has soared to 134% YtD as of Friday, October 3, 2025.
Notably, the share price spiked 10% intraday on Friday, probably reflecting investor excitement around the acquisition and the company’s growth outlook.
