On a humid Wednesday morning in Lagos, news broke that would send shockwaves through Nigeria’s capital markets.
UAC of Nigeria Plc had struck a bold deal — it was acquiring Chivita|Hollandia (CHI Limited) from The Coca-Cola Company.
Within hours, the trading floor buzzed with activity.
By Tuesday, UAC’s stock had surged past ₦100, climbing over 37% in just four trading days.
Strategic Expansion Into Consumer Goods
This acquisition signals a major strategic shift for UAC.
The century-old conglomerate, which operates across food, paints, logistics, and real estate, is strengthening its presence in Nigeria’s consumer goods sector.
CHI Limited, known for its Hollandia and Chivita brands, currently leads the market in dairy and juice categories.
Once regulators approve the transaction, UAC will significantly expand its consumer reach.
Group Managing Director of UAC, Fola Aiyesimoju, emphasised the deal’s growth potential.
“This acquisition allows us to build on Chivita|Hollandia’s legacy,” he said.
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Meanwhile, Managing Director of CHI, Eelco Weber, credited the company’s 5,000 employees for its market leadership and expressed confidence in its future under UAC’s ownership.
At the same time, The Coca-Cola Company is shifting towards a leaner operating model while reaffirming its commitment to Nigeria by pledging a $1 billion investment over five years.
Strong Financials Drive Investor Confidence
Furthermore, UAC’s financial performance continues to attract investor interest.
In H1 2025, the company increased revenue by 32.6% to ₦110.4 billion and boosted gross profit by 51% to ₦28.3 billion.
Although pre-tax and net profits declined year-on-year, UAC rebounded strongly in Q2.
It raised operating profit by 77% to ₦5.8 billion and lifted underlying pre-tax profit by 146%.
On June 4, shareholders approved a 22 kobo dividend during the AGM in Lagos.
Now, as shares climb past ₦100 and momentum builds, investors aren’t just watching—they’re celebrating Chivita’s promising future.
