UAC Nigeria Plc has deposited ₦19.2 billion to acquire CHI Limited in Nigeria, marking one of the largest FMCG deals this year.
The payment forms part of the total purchase price, though the full amount remains undisclosed.
To fund the deal, UAC sold Eurobond investments worth ₦5.58 billion for ₦5.5 billion in cash and also drew on internal cash flow and new borrowings.
CHI And Coca-Cola History
On July 29, 2025, UAC confirmed its agreement to buy CHI Limited from Coca-Cola Company.
CHI produces popular brands such as Hollandia and Chivita, which Coca-Cola fully acquired in 2019.
Coca-Cola originally invested $694.5 million but exited six years later with a $393 million loss, highlighting the challenges of Nigeria’s business environment.
Read Also: Coleman Opens Fibre Optic Plant To Boost Nigeria’s Digital Drive
UAC Financial Outlook
For UAC, the acquisition demonstrates confidence in local manufacturing and Nigeria’s growing consumer demand.
Despite a third-quarter loss of ₦1.98 billion, the company maintained nine-month profits of ₦5.38 billion.
Moreover, UAC increased operating profit by 9.1% to ₦13.4 billion and boosted cash flow by 69% to ₦21.6 billion, showing strong underlying performance.
The CHI acquisition could reshape UAC’s portfolio and strengthen its leadership in West Africa’s FMCG market.
