Nigeria: The Coca- Cola has now become the owner of Nigeria’s Chi after the company expanded minority investment it first announced three years ago, to full ownership.
Chi is recognised in West Africa as a leading producer of juice and value-added dairy beverages company in a growing market, and this acquisition underscores 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.
“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,” 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, produc- ing juice under the Chivita brand and value-added dairy under the Hollandia brand, among many other products.