By Erewunmi Peace

In a major shake-up within Nigeria’s fast-moving consumer goods (FMCG) sector, The Coca-Cola Company has announced its decision to sell Chi Limited, the parent company behind popular brands such as Chivita, Hollandia, and Capri-Sun, to UAC of Nigeria PLC.

The transaction, which was officially confirmed on July 30, 2025, is pending regulatory approval and marks a significant shift in Coca-Cola’s strategy in Africa’s largest economy. While financial details of the deal have not been disclosed, both companies described the move as “strategically aligned.”

“This decision is part of Coca-Cola’s global shift towards a more asset-light model,” the company said in a press statement. “However, our commitment to Nigeria remains firm, and we plan to invest over $1 billion in the Nigerian market over the next five years, provided the business environment remains stable.”

Chi Limited is a market leader in Nigeria’s juice and value-added dairy segments. With well-known products like Chivita Active, Hollandia Yoghurt, and Hollandia Evaporated Milk, the company has played a vital role in shaping Nigeria’s non-alcoholic beverage industry.

UAC, one of Nigeria’s oldest and most diversified conglomerates, sees this acquisition as a strategic milestone.

“We’re excited to add these iconic brands to our portfolio,” said UAC CEO Folasade Akintunde. “This deal positions us to drive greater innovation and consumer satisfaction in Nigeria’s growing FMCG market.”

The agreement has drawn attention from both local and international markets, as stakeholders watch how UAC will integrate and possibly expand the distribution and innovation footprint of the acquired brands.

The move also highlights increasing investor confidence in Nigeria’s consumer sector, despite economic challenges