Onome Amuge
UAC of Nigeria PLC has secured regulatory clearance for its purchase of Chivita|Hollandia (CHI Limited), cementing one of the most high-profile transactions in the country’s fast-moving consumer goods (FMCG) sector and underscoring the re-emergence of local ownership in brands once dominated by multinationals.
The Federal Competition and Consumer Protection Commission (FCCPC) gave its approval recently, enabling UAC to finalise the deal and integrate CHI Limited into its portfolio. With this acquisition, UAC will take control of some of Nigeria’s best-known consumer staples, including Chivita juice and Hollandia dairy products, brands that have long defined household shopping baskets.
Fola Aiyesimoju, UAC’s Group managing director, sees the deal as more than an expansion play. “The addition of Chivita|Hollandia strengthens UAC’s leadership in the Nigerian consumer goods market,” he said, pledging to preserve brand heritage while accelerating growth through the company’s established distribution channels.
For CHI, which had been wholly owned by Coca-Cola since 2019 following an initial minority investment in 2016, the divestment marks an end to a chapter in which a multinational guided its growth. Eelco Weber, managing director of CHI, described the sale as a chance for renewal: “We look forward to a smooth transition and to seeing Chivita|Hollandia thrive under UAC’s ownership,” he said.
The transaction marks a broader recalibration in Nigeria’s FMCG market. Multinationals that once saw Africa’s fourth largest economy as a growth frontier are reassessing strategies amid currency volatility, inflationary pressures and rising operating costs. Some, like Coca-Cola, have opted to pare back direct exposure. Meanwhile, local firms with deep distribution networks and sharper sensitivity to consumer behaviour are moving to reclaim space.
The move is expected to boost UAC’s reach across dairy, beverages, snacks and packaged foods, positioning it to benefit from shifting consumption patterns in a country where urbanisation and a young population continue to drive demand.
