The Coca-Cola Company has publicly announced that it has completed its acquisition of Chi Ltd. in Nigeria.
Coca-Cola first announced a minority investment in Chi in the year 2016 and during this time Coca-Cola acquired about a 40 percent stake and has now acquired full ownership of the company. Chi is an innovative, reputable and recognized brand in West Africa which is a fast-growing leader in expanding beverage categories, including juices, value-added dairy and iced tea.
The company started in Lagos around 1980. The company produces fine juice under the brand name, ‘Chivita’ and also produces dairy products under the brand name ‘Hollandia’, to name but a few of their many products.
This acquisition signals Coca-Cola’s optimism about Africa’s consumer opportunity and proves that Coca-Cola is commited to its long-term investment and growth plan on the continent, where it has been present for more than 90 years.