Coco-Cola completes acquisition of Chi ltd

Ebun Francis|

The Cola-Cola Company on Wednesday said it has completed the acquisition of Chi Limited.

In a statement signed its president, West Africa business unit, Peter Njonjo and made available to media outlets, Coca-Cola said that it has extended its minority investment in the company to full ownership.

Coco-Cola acquired a 40% minority stake in Chi ltd in 2016 and expressed interest in increasing ownership within three years.

The statement read, “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.”

“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.”

Chi Limited was founded in Lagos in 1980. It produces juice under the Chivita brand, Caprisonne and value-added dairy under the Hollandia brand.