{"id":30650,"date":"2019-02-02T14:32:19","date_gmt":"2019-02-02T12:32:19","guid":{"rendered":"https:\/\/southafricatoday.net\/africa-news\/?p=30650"},"modified":"2019-02-02T14:32:19","modified_gmt":"2019-02-02T12:32:19","slug":"the-coca-cola-company-completes-acquisition-of-chi-ltd-in-nigeria","status":"publish","type":"post","link":"https:\/\/southafricatoday.net\/africa-news\/west-africa\/nigeria\/the-coca-cola-company-completes-acquisition-of-chi-ltd-in-nigeria\/","title":{"rendered":"The Coca-Cola Company Completes Acquisition of Chi Ltd. in Nigeria"},"content":{"rendered":"

Coca-Cola Expands Minority Investment to Full Ownership of Africa\u2019s Leading Producer of Juice and Value-Added Dairy Beverages<\/strong><\/h4>\n
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ATLANTA-Friday 1 February 2019 [ AETOS Wire ]<\/a><\/em><\/p>\n

(BUSINESS WIRE<\/a>)– The Coca-Cola Company today announced that it has completed its acquisition of Chi Ltd. in Nigeria. Coca-Cola first announced a minority investment in Chi three years ago and, as planned, has now acquired full ownership of the company.<\/p>\n

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.<\/p>\n

This acquisition further signals Coca-Cola\u2019s optimism about Africa\u2019s 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.<\/p>\n

\u201cCoca-Cola is continuing to evolve as a total beverage company, and Chi\u2019s diverse range of beverages perfectly complements our existing portfolio, enabling us to accelerate expansion into new categories and grow our business in Africa,\u201d said Peter Njonjo, president of the West Africa business unit of Coca-Cola. \u201cWe will support the Chi management team in building on the company\u2019s remarkable heritage and achievements, while using the scale of the Coca-Cola system to replicate their success in more markets across Africa.\u201d<\/p>\n

About The Coca-Cola Company<\/u><\/strong><\/p>\n

The Coca-Cola Company (NYSE: KO) is a total beverage company, offering over 500 brands in more than 200 countries and territories. In addition to the company\u2019s Coca-Cola brands, our portfolio includes some of the world\u2019s most valuable beverage brands, such as AdeS soy-based beverages, Ayataka green tea, Costa coffee, Dasani waters, Del Valle juices and nectars, Fanta, Georgia coffee, Gold Peak teas and coffees, Honest Tea, innocent smoothies and juices, Minute Maid juices, Powerade sports drinks, Simply juices, smartwater, Sprite, vitaminwater and ZICO coconut water. We\u2019re constantly transforming our portfolio, from reducing sugar in our drinks to bringing innovative new products to market. We\u2019re also working to reduce our environmental impact by replenishing water and promoting recycling. With our bottling partners, we employ more than 700,000 people, helping bring economic opportunity to local communities worldwide.\u00a0Learn more at Coca-Cola Journey at\u00a0www.coca-colacompany.com<\/a>\u00a0and follow us on\u00a0Twitter<\/a>,\u00a0Instagram<\/a>,\u00a0Facebook<\/a>\u00a0and\u00a0LinkedIn<\/a>.<\/p>\n

The fairlife\u00ae brand is owned by fairlife LLC, our joint venture with Select Milk Producers Inc. Products from fairlife are distributed by our company and certain of our bottling partners.<\/p>\n

This press release features multimedia. View the full release here:\u00a0https:\/\/www.businesswire.com\/news\/home\/20190130005658\/en\/<\/a><\/p>\n<\/div>\n

\n
\n

Contacts<\/strong>
\nInvestors and Analysts:\u00a0<\/u><\/p>\n

Tim Leveridge +1 404.676.7563<\/p>\n

Media:\u00a0<\/u><\/p>\n

Scott Leith +1 404.676.8768<\/p>\n

or Clement Ugorji +234.803.978.0391<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Coca-Cola Expands Minority Investment to Full Ownership of Africa\u2019s Leading Producer of Juice and Value-Added Dairy Beverages ATLANTA-Friday 1 February 2019 [ AETOS Wire ] (BUSINESS WIRE)– The Coca-Cola Company today announced that it has completed its acquisition of Chi Ltd. in Nigeria. Coca-Cola first announced a minority investment in Chi three years ago and, […]<\/p>\n","protected":false},"author":1,"featured_media":188473,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[249],"tags":[4338,26427,26428,6018,8271,4692],"class_list":["post-30650","post","type-post","status-publish","format-standard","has-post-thumbnail","category-nigeria","tag-business","tag-coca-cola","tag-coca-cola-company","tag-investment","tag-manufacturing","tag-west-africa"],"_links":{"self":[{"href":"https:\/\/southafricatoday.net\/africa-news\/wp-json\/wp\/v2\/posts\/30650","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/southafricatoday.net\/africa-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/southafricatoday.net\/africa-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/southafricatoday.net\/africa-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/southafricatoday.net\/africa-news\/wp-json\/wp\/v2\/comments?post=30650"}],"version-history":[{"count":0,"href":"https:\/\/southafricatoday.net\/africa-news\/wp-json\/wp\/v2\/posts\/30650\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/southafricatoday.net\/africa-news\/wp-json\/wp\/v2\/media\/188473"}],"wp:attachment":[{"href":"https:\/\/southafricatoday.net\/africa-news\/wp-json\/wp\/v2\/media?parent=30650"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/southafricatoday.net\/africa-news\/wp-json\/wp\/v2\/categories?post=30650"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/southafricatoday.net\/africa-news\/wp-json\/wp\/v2\/tags?post=30650"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}