Global beverage agency Coca-Cola Company has acquired Chi Ltd. in Nigeria.
Coca-Cola first launched a minority funding in Chi three years up to now and, as deliberate, has now acquired full possession of the company.
Chi is acknowledged in West Africa as n progressive, fast-growing chief in rising beverage courses, along with juices, value-added dairy and iced tea.
The agency, primarily based in Lagos, Nigeria, in 1980, produces juice beneath the Chivita mannequin and value-added dairy beneath the Hollandia mannequin, amongst many completely different merchandise.
Coca-Cola acquired a 40 p.c stake in Chi in 2016 from Tropical General Investments Group, the holding agency for Chi Ltd. Juices and value-added dairy courses rank among the many many fastest-growing beverage segments in Nigeria and Africa.
This acquisition further indicators Coca-Cola’s optimism about Africa’s shopper different and a dedication to its long-term funding and progress plan on the continent, the place it has been present for larger than 90 years.
“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,” talked about Peter Njonjo, president of the West Africa enterprise unit of Coca-Cola.
We will assist the Chi administration workforce in establishing on the company’s excellent heritage and achievements, whereas using the scale of the Coca-Cola system to repeat their success in further markets all through Africa.”