The world’s largest beverage company, Coca-Cola Nigeria Limited, recently announced its official takeover of Chi Limited.
According to the President of the West Africa Business Unit of Coca-Cola, Mr. Peter Njonjo, the company had earlier acquired a 40 per cent stake in Chi Limited and expressed interest in increasing ownership within three 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,”
he said.
Njonjo, however, added that the company “still supports the Chi management team in building on the company’s remarkable heritage and achievements while using a scale of the Coca-Cola system to replicate their success in more markets across Africa.”
Chi Limited is recognised in West Africa as an innovative, fast-growing leader in expanding beverage categories, including juices under the Chivita brand; value-added dairy under the Hollandia brand; and iced tea among many other
products.
Earlier, Njonjo had said that the company’s drive to diversify its product range would give it some
flexibility.
“Affordability will start becoming a bigger issue in this market than it was in the past. As a company, that is what we need to factor in as we are thinking about the future of our business in Nigeria,” Njonjo said.
