• About Us
  • Advertise with us
  • Contact
Monday, April 12, 2021
Brands News Nigeria
  • Home
  • Brands
  • Featured
  • Opinions
  • Insights
  • Contact
No Result
View All Result
Brands News Nigeria
Home Brands

Coca-Cola completed the acquisition of Chi Ltd

2 years ago
in Brands
Reading Time: 2min read
0
Share on FacebookShare on TwitterShare on WhatsAppShare on LinkedInShare on TelegramShare via email

The Coca-Cola Company 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.

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.

With this, the non-alcoholic beverage market can be said to have witnessed a revolution as in 2016, the company acquired a 40% minority stake in Chi and increased ownership on 30th January 2019.

In a statement at Eko Hotels, Lagos on Wednesday, 1st February 2019, Coca-Cola announced that it has extended its minority investment in the company to full ownership.

Related posts

Rite Foods Excites Sports Enthusiasts at Elegushi Peace Cup Tournament in Lagos

Rite Foods Excites Sports Enthusiasts at Elegushi Peace Cup Tournament in Lagos

April 12, 2021
New PayTV, Moreplex, Set TO Debut in Nigeria

New PayTV, Moreplex, Set TO Debut in Nigeria

April 10, 2021
Debola Badejo Assumes New Position As Managing Director, UAC Restaurants

Debola Badejo Assumes New Position As Managing Director, UAC Restaurants

April 9, 2021
DLM Capital Group Taps into Nigeria’s Fintech Opportunity, Acquires MFB License

DLM Capital Group Taps into Nigeria’s Fintech Opportunity, Acquires MFB License

April 9, 2021

The president of the West Africa business unit of Coca-Cola, Peter Njonjo shared that “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,”

READ  Commandant of Nigeria Armed Forces Resettlement Centre Visits Mouka to Strengthen Ties as Company Celebrates World Sleep Day

“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.”

While reacting to questions on if the products will be collapsed, Njonjo reinterated that “all products will co-exist. Already Chi sells high quality products so we shall continue with that quality and affordable pricing. Our objective is to grow the Chi and Hollandia units into a global multi-billion dollar brand”

The Public Affairs and Communications Director, West Africa Business Unit, Clem Ugorji, however reiterate that “this acquisition is a testament to how we will achieve our objectives and it is a celebration of entrepreneurship.”

In a September 2018 interview, Njonjo had said that the company’s drive to diversify its product range would give it some flexibility.

Chi Limited was founded in Lagos in 1980. It produces juice under the Chivita brand, Caprisonne and value-added dairy under the Hollandia brand.

Share1TweetSendShareShareSend
Previous Post

Fruit Juice Helps to Lower Blood Pressure

Next Post

Hymnodia: Organisers Set to Announce Final 14 Contestants

Related Posts

Rite Foods Excites Sports Enthusiasts at Elegushi Peace Cup Tournament in Lagos
Brands

Rite Foods Excites Sports Enthusiasts at Elegushi Peace Cup Tournament in Lagos

April 12, 2021
New PayTV, Moreplex, Set TO Debut in Nigeria
Brands

New PayTV, Moreplex, Set TO Debut in Nigeria

April 10, 2021
Debola Badejo Assumes New Position As Managing Director, UAC Restaurants
Brands

Debola Badejo Assumes New Position As Managing Director, UAC Restaurants

April 9, 2021
DLM Capital Group Taps into Nigeria’s Fintech Opportunity, Acquires MFB License
Brands

DLM Capital Group Taps into Nigeria’s Fintech Opportunity, Acquires MFB License

April 9, 2021
Naomi Efan-Okon Is Cussons Baby Of The Year Season 7 Wins, ₦2 Million, Gifts
Brands

Naomi Efan-Okon Is Cussons Baby Of The Year Season 7 Wins, ₦2 Million, Gifts

April 3, 2021
Smile Gets $51m Funding to Boost Operations
Brands

Smile Gets $51m Funding to Boost Operations

April 3, 2021
Next Post
Hymnodia Season One Finals in Photos

Hymnodia: Organisers Set to Announce Final 14 Contestants

14 Contestants Finally emerged for the Hymnodia Reality Show

Leave a Reply Cancel reply

RECOMMENDED NEWS

StarTimes Launches 24-hour e-Shopping Channel

StarTimes Launches 24-hour e-Shopping Channel

7 months ago
Promasidor launches SunVita Choco Crunch

Promasidor launches SunVita Choco Crunch

1 year ago

Paga Mobile Money processed N1.2 trillion in 10 years

2 years ago
FBRA Appoints Agharese Lucia Onaghise as Executive Secretary

FBRA Appoints Agharese Lucia Onaghise as Executive Secretary

1 year ago
Jaiz Bank Partners Chajandatti on Waste Management

Jaiz Bank Partners Chajandatti on Waste Management

2 years ago

Trending News

  • The Bitter Truth About The Dangote vs BUA Sugar War

    The Bitter Truth About The Dangote vs BUA Sugar War

    0 shares
    Share 0 Tweet 0
  • NBC vs Rite Foods Limited: Trademark Infringement and Intellectual Property Debate

    0 shares
    Share 0 Tweet 0
  • Vitafoam’s Subsidiary, Vitavisco to Unveil New Product

    0 shares
    Share 0 Tweet 0
  • Mouka Joins Consumers in Celebrating Easter

    0 shares
    Share 0 Tweet 0
  • Suntory Beverage & Food Nigeria unveils Lucozade Cola

    0 shares
    Share 0 Tweet 0
Brands News Nigeria

BrandsNewsNG is Nigeria's Premier brands news portal that publicizes news articles, opinions, analysis as well as promotional contents for brands.

Follow us on social media:

Tweets by BrandsNewsNG
Omnicom Group wins Global Deal with Allianz

Omnicom Group wins Global Deal with Allianz

April 12, 2021
Rite Foods Excites Sports Enthusiasts at Elegushi Peace Cup Tournament in Lagos

Rite Foods Excites Sports Enthusiasts at Elegushi Peace Cup Tournament in Lagos

April 12, 2021
The Bitter Truth About The Dangote vs BUA Sugar War

The Bitter Truth About The Dangote vs BUA Sugar War

April 10, 2021
  • Home
  • About Us
  • Advertise with us

© 2020 BrandsNewsNG - Designed by Semasir Connect.

No Result
View All Result
  • Home
  • Brands
  • Featured
  • Opinions
  • Insights
  • Contact

© 2020 BrandsNewsNG - Designed by Semasir Connect.