After acquiring a minority stake in Chi in 2016, Coca-Cola has just taken full control of the Nigerian company specializing in beverages and snacks.

Coca-Cola announced on January 30 the finalization of the acquisition of Nigerian Chi. The American company, which had acquired a 40% stake in Chi in 2016 from the Tropical General Investments group, the management company of the Nigerian company, took control as planned.

Coca-Cola did not disclose the amount of this acquisition, but according to the Financial Times, it was approximately $240 million (€220 million) to acquire 40% of the Nigerian company in 2016.

Founded in Lagos in 1980, the company produces fruit juices under the Chivita brand, and various dairy products and snacks under the Hollandia brand.

Article source: Jeune Afrique