The Coca-Cola Company has agreed to sell dairy-and-juices supplier Chivita Hollandia to UAC of Nigeria. The financial terms were not disclosed. UAC of Nigeria sees the deal as a strategic milestone in its growth agenda. Coca-Cola’s strategy is to focus on brands that have the greatest potential to scale. Chivita Hollandia produces fruit juices, nectars, yogurt, and milk products. UAC of Nigeria’s products include Gala sausage rolls, Funtime snacks, and Supreme ice cream. Coca-Cola acquired a 40% stake in Chivita Hollandia in 2016 and fully acquired the group in 2019. Chivita Hollandia’s dairy and juice business has shown significant progress in recent years, with the brands emerging as leaders in their categories. The deal aligns with Coca-Cola’s strategy to focus on brands with the greatest potential to scale. Coca-Cola HBC plans to invest $1bn in Nigeria over the next five years, including expanding manufacturing capacity at Nigerian Bottling Company. Coca-Cola HBC operates eight production plants in Nigeria, employing around 2,800 staff.

Read more at Yahoo Finance: Coca-Cola sells Nigeria dairy-and-juices business Chivita Hollandia