Coca-Cola Company has completed its acquisition of Nigerian juice and dairy company, Chi Ltd. Coca-Cola first announced a minority investment in Chi three years ago and, as planned, has now acquired full ownership.
“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.”
Chi was founded in Lagos, Nigeria, in 1980. The company produces juice under its Chivita brand and value-added dairy under its Hollandia brand, among other products. Juices and value-added dairy categories rank among the fastest-growing beverage segments in Nigeria and Africa.