Coca-Cola takes 100% ownership of CHI Limited

Coca-Cola has taken full ownership of CHI Limited.

In a statement issued on Wednesday, the soft drinks giant said that it has acquired the remaining 60% stake in CHI it does not already own.

Coca-Cola acquired a 40% stake in the Nigerian juice maker in 2016, promising to take full ownership in three years if certain benchmarks were met and subject to regulatory approval.

“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,” the President of the West Africa business unit of Coca-Cola, Peter Njonjo, said.

“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.”

CHI, which was founded in 1980, is the leading juice maker in Nigeria and produces juice under the Chivita brand, as well as the Capri-Sun brand for children, and value-added dairy under the Hollandia brand.

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