[REVEALED] UAC’s Purchase of Chivita and Hollandia Maker Costs N2.3bn

[REVEALED] UAC’s Purchase of Chivita and Hollandia Maker Costs N2.3bn

UAC of Nigeria has said the transaction costs related to its acquisition of Chivita|Hollandia (CHI Limited), the maker of Chivita and Hollandia, amounted to N2.3 billion.

On 3 October, the company completed the acquisition of a 100% equity stake in CHI, a dairy and juice company in Nigeria, which will be consolidated into UAC’s financial statements from the fourth quarter, according to its latest earnings release.

Its Group Managing Director Fola Aiyesimoju said CHI acquisition “holds meaningful potential for UAC”, describing the juice maker as “a wonderful business with market-leading brands in attractive growth sectors of Nigeria’s food and beverage industry”.