Daily Archives: January 31, 2016

Coca-Cola buys 40% stake in Chi Ltd.

Coca-Cola Company announced on Saturday that it has acquired a 40% stake in Nigeria’s largest juice maker, Chi Limited, known for its Chivita and Hollandia juice, dairy and yoghurt drinks.

Coke bought the stake from Tropical General Investments Group (TGI Group), Chi’s parent company, the two companies said in a joint statement, though they did not disclose how much Coke paid for the stake. One industry source said Coca-Cola was paying a “triple-digit-million-dollar” amount for the stake. Other sources say Chi was valued at as much as $1bn.