The Coca-Cola Co. has acquired Chi Ltd., a Nigerian company that produces juice under the Chivita brand, value-added dairy under the Hollandia brand, and a list of other products including iced tea.
Coca-Cola acquired a 40 percent stake in Chi in 2016 from Tropical General Investments Group. Boosting its minority stake in Chi to full ownership is a sign of Coca-Cola's optimism about Africa's consumer opportunity and a commitment to its long-term investment and growth plan on the continent.
"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," says Peter Njonjo, president of the West Africa business unit of Coca-Cola. He says the plan is to use the scale of the Coca-Cola system to replicate Chi's success in more markets across the continent.
Related: Soft Drink Market to Grow; Coca-Cola Acquires Kombucha Maker.
from Industry Operations http://bit.ly/2Wy5cgY
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