Chi
Chi produces juice and value-added dairy under various brands. Credit: rawpixel on Unsplash.

Coca-Cola has completed an acquisition of Nigeria-based juice and dairy beverages producer Chi.

In 2016 Coca-Cola acquired a 40% stake in Chi from Tropical General Investments Group. The latest deal now sees Coca-Cola become the sole owner.

Established in 1980, Chi produces juice under the Chivita brand and dairy beverages under the Hollandia brand. These product categories are claimed to be some of the fastest-growing beverage segments in Nigeria and Africa.

In a press statement, Coca-Cola noted that this deal reflects its optimism about Africa’s consumer opportunities and a commitment to its growth plan on the continent.

“We will support the Chi management team in building on the company’s remarkable heritage and achievements.”

Coca-Cola West Africa business unit president Peter Njonjo said: “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.

“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.”

Earlier this month, Coca-Cola Company completed an acquisition of Costa from Whitbread for $4.9bn.

The Coca-Cola Company offers more than 500 brands in 200 countries and territories. Its portfolio includes beverage brands such as AdeS, Ayataka, Dasani, Del Valle, Fanta, Georgia, Gold Peak, Honest Tea, innocent smoothies and ZICO.