UAC of Nigeria Plc has confirmed that its acquisition of CHI Limited, makers of the popular Chivita and Hollandia beverage brands, is fully financed and on track to close within the next two to four months, subject to regulatory approvals.
The company’s Group Managing Director and CEO, Fola Aiyesimoju, disclosed this during a recent investor call, where he assured stakeholders that UAC has secured the funds through a mix of internal resources and bank financing.
“This was not an opportunistic deal,” Aiyesimoju explained. “We had planned for this, years in advance, ensuring our foundation—people, IT systems, risk controls—was strong enough to manage a larger business. The acquisition fits perfectly into our long-term strategy.”