Coca-Cola, takes full ownership of Chi juice company

Chi is Nigeria’s largest juice maker, known for its Chivita and Hollandia juice, dairy and yoghurt drinks.

Peter Njonjo, president of Coca-Cola’s West Africa business, confirmed the acquisition deal to Reuters in an interview at his office in Lagos, on Wednesday, September 19, 2018.

“We are still on track to complete the acquisition (of Chi Ltd) by the end of the first quarter of 2019,” Reuters quoted Njonjo as saying.

Coca-Cola is considering consumer’s pocket

According to Njonjo, the company is focusing on smaller bottles and cans which is another way the company is trying to woo cash-strapped consumers in Nigeria, which emerged from its first recession in 25 years in 2017 but continues to suffer from sluggish growth and high inflation.

“Affordability will start becoming a bigger issue in this market than it was in the past. As a company, that is what we need to factor in as we are thinking about the future of our business in Nigeria.”

In 2016, Coca-Cola bought a 40% stake in the Nigerian juice and snack producer (Chi) with the aim to increase ownership within three years, subject to regulatory approvals while working on other long-term commercial structures.

Last month, Coca-Cola also bought Costa Coffee chain in a near – £4 billion ($5.2 billion) deal that underlines the scale of the global coffee revolution, according to the Guardian.

The West Africa head said the company is looking for ways to present hot-coffee drinking to the Nigerian culture.

“There definitely could be an opportunity around ready-to-drink coffee here in Nigeria having iced coffee, blends of dairy and coffee, packaged in different formats,” he said.

Posted by

AsToldbyAda is an informational website filled with different kinds of spice to fill your daily curiosity. A quick way to credible news. It was incorporated in April 2018. Our mission is to provide the ideal platform for Nigerians in diaspora to gain a deeper insight into day to day affairs in Nigeria. Foreigners looking forward to a visit or those that are just curious to know more about Nigeria will also find a place of comfort here.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s