Connect with us
X
Categories:

Business

Coca-Cola becomes owner of Chi Ltd

All Naija Entertainment

Published

on

Coca-Cola first announced a minority investment in Chi three years ago and, as planned, has now acquired full ownership of the company.

All Naija Entertainment is one of the largest online Entertainment website in the world. We aim to make information accessible to everyone.

You may remember that during the last time, we experienced some technical difficulties. But we held out, and continue to move forward. And now we really need your help. Today (September 25, 2019) we've started additional fundraising to project maintenance and development. Please read more here or make a donation here.


Chi is recognized in West Africa as an innovative, fast-growing leader in expanding beverage categories, including juices, value-added dairy and iced tea.

The company, founded in Lagos, Nigeria, in 1980, produces juice under the Chivita brand and value-added dairy under the Hollandia brand, among many other products. Coca-Cola acquired a 40 percent stake in Chi in 2016 from Tropical General Investments Group, the holding company for Chi Ltd. Juices and value-added dairy categories rank among the fastest-growing beverage segments in Nigeria and Africa.

READ ALSO  Hope you can see life out of power is not that bad - Aisha reacts to Buhari AU meeting with Obasanjo

This acquisition further signals Coca-Cola’s optimism about Africa’s consumer opportunity and a commitment to its long-term investment and growth plan on the continent, where it has been present for more than 90 years.

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


Get More Stories Like This On: Facebook: @AllNaijaEntertainment, Twitter: @AllNaijaEntertainment

Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *


Latest Exchange Rate

ANE Billboard Hots!

css.php