Coca-Cola acquires initial minority shareholding in Nigeria’s leading value-added dairy, juices and snacks business to expand its African stills beverage portfolio
LAGOS, Nigeria, Jan. 30, 2016 – The
Within the agreement, The
The investment in Nigeria’s leading value-added dairy and juice beverage brands – which include Hollandia and Chivita – further expands The
TGI Group’s relationship with The
“For more than 30 years Chi’s leadership has built a greatly admired business that has quickly grown to become Nigeria’s leading producer and distributor of value-added dairy and juice products and we are delighted to enter the next phase of our growth journey together,” said Nathan Kalumbu, President,
“We strongly believe in this journey we are starting with The Coca‑Cola Company. The relationship will allow us to expand our regional footprint and product portfolio. We stay firmly committed to growing our investments in the Nigerian economy, increasing employment and local content while supporting the communities we operate in. Chi will continue to provide its consumers with innovative products in the dairy, juices and snacks categories” said Cornelis Vink, Chairman of TGI Group and Chi Ltd.
“We are immensely proud of the success that Chi has achieved in building the much-loved Hollandia and Chivita brands. We recognize the unique opportunity that the relationship with The
“Coca-Cola has been investing in Nigeria for more than 60 years and today’s announcement represents the latest significant step in our commitment to growing our business and providing trusted beverage brands for Nigerian consumers and communities,” said Kelvin Balogun, President of
In 2014, the
Coca-Cola was first served in Johannesburg in 1928 and the Company’s products are now present in every country in Africa with its system employing more than 70,000 people in 145 bottling and canning facilities.
About Tropical General Investments Group (TGI Group)
Tropical General Investments Group (TGI Group) is the majority shareholder of Chi Ltd. TGI Group invests in emerging economies, adding value to locally available resources targeting an end product both for local consumption and the global market. TGI has over three decades of experience building local and regional sustainable businesses in fast moving consumer goods (FMCG), agriculture, agro-allied, healthcare, chemicals, etc. The Group's global presence in manufacturing, farming and agro-processing, distribution etc. spans 12 countries, with a staff of over 9,000. For more information, please visit www.clicktgi.net
About Chi Limited
Incorporated in 1980, Chi Limited is one of the most admired companies in the domain of Food & Beverages in Nigeria and has market leadership positions in fruit juices, ice tea, value-added dairy products and snacks in Nigeria. Chi operates in these categories with several mega brands including CHIVITA 100%, CHIVITA Active, CHI Exotic, CHI Happy Hour, CHI Ice Tea, Capri-Sonne, Hollandia, Chi Super Bite, Beefie. Chi Limited has successfully built its business through innovative product introductions, a significant product portfolio, robust route to market structure and a state of the art manufacturing facility.
The company has something to offer to almost everyone. Chi's products help to cater to the diverse needs & palates of every segment of this dynamic population, thus making Chi's brands most admired and providing a range of choices to each socio-economic and demographic consumer segment.
More on Journey
Irial Finan to Retire from
Coca-Cola; Calin Dragan to Take Leadership of Bottling Investments Group
The Board of Directors of The
Coca-ColaCompany Declares Quarterly Dividend
Coca-ColaCompany Announces Timing of Fourth Quarter and Full Year 2017 Earnings Release and Investor Conference Call
Coca-ColaCompany Completes Refranchising of Company-Owned Bottling Operations in the United States
Coca-ColaCompany Announces Leadership Transition for Coca-ColaNorth America