Coca-Cola completes acquisition of Chi Ltd.

coca-cola-completes-acquisition-of-chi-ltd

Coca-Cola Expands Minority Investment to Full Ownership of Africa’s Leading Producer of Juice and Value-Added Dairy Beverages

The Coca-Cola Company has announced that it has completed its acquisition of Chi Ltd. in Nigeria. Coca-Cola first announced a minority investment in Chi three years ago and, as planned, has now acquired full ownership of the company.

Chi is recognized in West Africa as an innovative, fast-growing leader in expanding beverage categories, including juices, value-added dairy and iced tea.

Coca-Cola acquired a 40 percent stake in Chi in 2016 from Tropical General Investments Group, the holding company for Chi Ltd. Juices and value-added dairy categories rank among the fastest-growing beverage segments in Nigeria and Africa.

Peter Njonjo, president of the West Africa business unit of Coca-Cola said, “Coca-Cola is continuing to evolve as a total beverage company, and 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. 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.”

This acquisition further signals Coca-Cola’s optimism about Africa’s consumer opportunity and a commitment to its long-term investment and growth plan on the continent, where it has been present for more than 90 years.

 

Read Previous

Lipari Foods unites with RTON to market ENDO Water

Read Next

Mondelēz International Reports 2018 Results

Leave a Reply

Most Popular