The Federal Competition and Consumer Protection Commission (FCCPC) has officially approved the acquisition of Chivita|Hollandia (CHI Limited) by UAC of Nigeria PLC (UAC), marking a major milestone in Nigeria’s fast-moving consumer goods (FMCG) landscape.
UAC confirmed the completion of the deal in a statement issued on October 3, 2025, following the regulator’s clearance. The transaction, first announced on July 30, 2025, transfers ownership of CHI Limited, maker of popular Chivita juice and Hollandia dairy products from The Coca-Cola Company to UAC.
Fola Aiyesimoju, Group Managing Director of UAC, described the acquisition as both strategic and symbolic. “We are excited to officially welcome the Chivita|Hollandia team and brands into the UAC family, and we are eager to work together to build on their strong legacy and market leadership,” he said.
Eelco Weber, Managing Director of CHI Limited, expressed optimism about the transition. “We are pleased to have received regulatory approval for this transaction. We look forward to a smooth transition and to seeing Chivita|Hollandia thrive under UAC’s ownership,” he stated.
Industry analysts say the move could reshape Nigeria’s beverage and dairy markets, intensifying competition and driving innovation across the sector.
The acquisition marks a strategic shift toward greater local control of value chains in Nigeria’s consumer goods market. By taking ownership of CHI Limited, UAC strengthens its position in two of the country’s most recognizable household brands, expanding its production capacity, pricing power, and distribution reach nationwide.
Traditionally active in real estate, paints, and animal feeds, UAC’s latest move reinforces its return to the consumer goods segment—a space where the company has deep historical roots.
The announcement coincided with UAC’s half-year 2025 financial results, which revealed solid revenue growth despite a decline in pre-tax profit. The company reported ₦110.4 billion in revenue, a 33% year-on-year increase, and ₦12.59 billion in operating profit—nearly double the H1 2024 figure. However, pre-tax profit dropped 25% to ₦11.1 billion, largely due to the absence of foreign exchange gains recorded in the previous year.
Group Finance Director Funke Ijaiya-Oladipo clarified that the dip was “purely a function of FX gains normalization,” emphasizing that the company’s core performance remains strong.
Investor confidence in UAC continues to rise. As of October 3, 2025, the company’s stock had surged 134% year-to-date, with a 10% intraday rise on Friday following the acquisition announcement. Analysts predict the transaction will further strengthen UAC’s valuation as synergies begin to take effect.
The acquisition also reflects a broader industry trend toward localization, as Nigerian FMCG companies invest in local production and innovation to navigate rising import costs and currency fluctuations. With CHI Limited’s state-of-the-art processing plants and innovation pipeline, UAC gains a significant competitive edge in the evolving food and beverage market.
Beyond corporate gains, the FCCPC’s swift approval demonstrates Nigeria’s growing commitment to a fair and balanced regulatory environment that promotes both consumer welfare and sustainable industrial growth.
Looking ahead, the UAC–CHI Limited deal could become a model for future acquisitions in the FMCG space, as local conglomerates continue consolidating their portfolios to strengthen domestic capacity and expand across African markets.
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