FCCPC Approves UAC’s Acquisition of Chivita|Hollandia

UAC of Nigeria PLC has officially completed its acquisition of CHI Limited, the company behind the popular Chivita juice and Hollandia dairy brands. The transaction, first announced on July 30, 2025, received final approval from the Federal Competition and Consumer Protection Commission (FCCPC) on October 3, 2025.

CHI Limited’s Managing Director, Eelco Weber, expressed optimism about the transition, stating that the company looks forward to thriving under UAC’s ownership. Fola Aiyesimoju, Group Managing Director of UAC, described the acquisition as a strategic move to expand UAC’s presence in Nigeria’s fast-moving consumer goods sector.

The deal also aligns with The Coca-Cola Company’s global strategy to adopt a more asset-light model. Despite divesting CHI Limited, Coca-Cola reaffirmed its commitment to Nigeria, with plans to invest $1 billion over five years, contingent on a stable business environment.

UAC’s half-year 2025 financial results showed strong revenue growth, reaching ₦110.4 billion—a 33% increase year-on-year. Operating profit nearly doubled to ₦12.59 billion, although pre-tax profit fell 25% to ₦11.1 billion due to the absence of foreign exchange gains. Investor enthusiasm around the acquisition was evident, with UAC’s share price climbing 134% year-to-date, including a 10% intraday spike on the day of the announcement.