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Coca-cola Finally Acquires Chi Ltd - Business - Nairaland

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Coca-cola Finally Acquires Chi Ltd by Onyemadonald(m): 8:29am On Feb 03, 2019
The non alcoholic beverage market is set to witness a revolution as the leading beverage company, Coca-Cola, fully acquires Chi limited.

President Coca-Cola West Africa, Business Unit, Peter Njonjo, said that Coca-Cola had earlier in January 29th 2016 acquired 40 per cent of Chi Ltd but has now completed the acquisition by taking over the remaining 60 per cent of Chi company on January 30th 2019.

He revealed this while making the announcement at Eko Hotels, Lagos, at a press briefing attended by top officials of Coca-Cola and Chi companies and other stake holders.
While describing the acquisition as a testament to the company’s commitment to being a total beverage company to meet the changing tastes and needs of consumers, he said the acquisition was spurred by a shift in the taste and needs of consumers. He also said that a majority of the customers of Coca-Cola were of the lower income cadre, adding that Chi, on its part, was relevant to the Nigerian market, especially in terms of low prices.

“We will support the Chi management team in building on the company’s remarkable heritage and achievements while using the scale of the Coca-Cola system to replicate their success in more markets across Africa.” The visibly elated Njonjo noted that the acquisition was an investment of great interest because of how the brand has been built and made relevant in the Nigerian economy emphasising that it will be further grown into a global million dollar brand over the next 10 years, adding that towards that end, “Coca-Cola recently launched Hollandia yoghurt drink in South Africa.”

Responding to a question on if any products in the two companies may be collapsed, Njonjo said that none of the products in any of the companies will give way, rather “all the products will coexist. Already Chi sells high quality products so we shall continue with that quality and affordable pricing.” Continuing, he explained that the company Chi will still be left to operate with their staff. “We shall not interfere with the day-to-day running of the company but we shall maintain and grow it. Its products would be distributed internationally.”

“Our objective is to grow both the Chi and Hollandia units to a global multi-billion dollar brand.” Lending credence to what Njonjo said, Coca-Cola’s Public Affairs & Communications Director West Africa Business Unit, Clem Ugorji, reaffirmed that “This acquisition is a testament to how we will achieve our objectives and it is also a celebration of entrepreneurship.”

Speaking further, he said “We will not collapse the Chi brand or any of its products. Doing that will only make the company lose the attractiveness that it had before the acquisition. Rather, we will continue to grow both brands and employees in order to grow our customer base and strengthen our market share.”

Chi Limited was founded in Lagos in 1980. It produces juice under the Chivita brand, Caprisonne and value-added dairy under the Hollandia brand. In a September 2018 interview, Njonjo had said that the company’s drive to diversify its product range would give it some flexibility.

SOURCE: https://www.trendingaccounting.com/2019/02/coca-cola-finally-acquires-chi-ltd.html

5 Likes

Re: Coca-cola Finally Acquires Chi Ltd by StupidInyamiri: 8:31am On Feb 03, 2019
Coca cola and sugar
When Atiku was in Apc,Buhari wasn't lifeless
Buhari was a darling and best thing to sugar, as soon as he exit Apc,Buhari suddenly become lifeless and vinegar..

Shameless followers..

25 Likes 6 Shares

Re: Coca-cola Finally Acquires Chi Ltd by Nobody: 8:39am On Feb 03, 2019
Is that why superbite sausage rolls get spoilt even before it expiry date? Anything coca made is of lower quality.

45 Likes 5 Shares

Re: Coca-cola Finally Acquires Chi Ltd by freemanbubble: 8:41am On Feb 03, 2019
Okay

This is a good news for indomie generation
We the men soak our system and blood with strong booze

19 Likes 2 Shares

Re: Coca-cola Finally Acquires Chi Ltd by Aregs(m): 8:42am On Feb 03, 2019
Good for them

2 Likes

Re: Coca-cola Finally Acquires Chi Ltd by Nobody: 8:42am On Feb 03, 2019
StupidInyamiri:
Coca cola and sugar
When Atiku was in Apc,Buhari wasn't lifeless
Buhari was a darling and best thing to sugar, as soon as he exit Apc,Buhari suddenly become lifeless and vinegar..

Shameless followers..
Is everything ok bro? You sound disturbed. This was how sarrki started, now look where he is.

230 Likes 16 Shares

Re: Coca-cola Finally Acquires Chi Ltd by SleekyP(m): 8:43am On Feb 03, 2019
Hell no cry cry

1 Like

Re: Coca-cola Finally Acquires Chi Ltd by seanswitch(m): 8:43am On Feb 03, 2019
Acquiring a competitor. undecided

13 Likes

Re: Coca-cola Finally Acquires Chi Ltd by jeeqaa7(m): 8:44am On Feb 03, 2019
Kk

1 Like

Re: Coca-cola Finally Acquires Chi Ltd by Gkemz(m): 8:44am On Feb 03, 2019
If you can't compete along, acquire your competitor and crash it approach has been working for coca cola.

Who still talk about the popular Limca of early 90s. The name has gone into extinction. Thanks to Coca cola.

35 Likes

Re: Coca-cola Finally Acquires Chi Ltd by lenghtinny(m): 8:44am On Feb 03, 2019
StupidInyamiri:
Coca cola and sugar
When Atiku was in Apc,Buhari wasn't lifeless
Buhari was a darling and best thing to sugar, as soon as he exit Apc,Buhari suddenly become lifeless and vinegar..

Shameless followers..
angry

62 Likes 3 Shares

Re: Coca-cola Finally Acquires Chi Ltd by iHart(m): 8:44am On Feb 03, 2019
Hmmmmm, the way Dufil/Indomie is buying up every noodle making company.
Re: Coca-cola Finally Acquires Chi Ltd by richiepolymer(m): 8:44am On Feb 03, 2019
This acquisition to me looks like Coca Cola is buying Chi to control Chi's market penetration. Coca Cola can buy any company and kill it if it feels threatened.

32 Likes 1 Share

Re: Coca-cola Finally Acquires Chi Ltd by naijapips04: 8:44am On Feb 03, 2019
StupidInyamiri:
Coca cola and sugar
When Atiku was in Apc,Buhari wasn't lifeless
Buhari was a darling and best thing to sugar, as soon as he exit Apc,Buhari suddenly become lifeless and vinegar..

Shameless followers..

I can now say with all certainty that this chic ain't normal.

6 Likes

Re: Coca-cola Finally Acquires Chi Ltd by mrvitalis(m): 8:44am On Feb 03, 2019
Chi just bleeped up

3 Likes

Re: Coca-cola Finally Acquires Chi Ltd by aAK1(m): 8:45am On Feb 03, 2019
The reason holandia has become watery lately.

35 Likes 2 Shares

Re: Coca-cola Finally Acquires Chi Ltd by Felixwills: 8:45am On Feb 03, 2019
What are saying?
Pls go church or mosque. What concerns this acquisition with lifeless buhari.

StupidInyamiri:
Coca cola and sugar
When Atiku was in Apc,Buhari wasn't lifeless
Buhari was a darling and best thing to sugar, as soon as he exit Apc,Buhari suddenly become lifeless and vinegar..

Shameless followers..

9 Likes

Re: Coca-cola Finally Acquires Chi Ltd by mangojuice(m): 8:45am On Feb 03, 2019
StupidInyamiri:
Coca cola and sugar
When Atiku was in Apc,Buhari wasn't lifeless
Buhari was a darling and best thing to sugar, as soon as he exit Apc,Buhari suddenly become lifeless and vinegar..

Shameless followers..
you don't have sense.

8 Likes

Re: Coca-cola Finally Acquires Chi Ltd by DesChyko(m): 8:46am On Feb 03, 2019
grin
Re: Coca-cola Finally Acquires Chi Ltd by Injiggerwolf(m): 8:46am On Feb 03, 2019
This is old news
Re: Coca-cola Finally Acquires Chi Ltd by lenghtinny(m): 8:46am On Feb 03, 2019
Gkemz:
If you can't compete along acquire your competitor approach has been working for coca cola.
For your mind, house of Chi is a threat to Coca cola angry

1 Like

Re: Coca-cola Finally Acquires Chi Ltd by Mopolchi: 8:46am On Feb 03, 2019
This is an old news angry

1 Like 2 Shares

Re: Coca-cola Finally Acquires Chi Ltd by olujastro: 8:48am On Feb 03, 2019
I was very unhappy when I read about this acquisition some years ago.
Then, I thought Chi was a fully owned Nigerian brand and was looking forward to seeing Nigerian companies becoming the next Nestlés, Unilevers, etc.

Bottom line for consumers is, no more fruit juice competition in Nigeria going forward. So expect anyhow increases in prices from Coca-Cola for flimsy reasons.

19 Likes

Re: Coca-cola Finally Acquires Chi Ltd by Vado(m): 8:48am On Feb 03, 2019
All top multinational companies do this. Facebook, Apple, Coca-Cola. Chi was the juice market leader in Nigeria. It has dominated the number one spot for a while now. Nobody cares about 5Alives anymore except for the Pulpy range.

28 Likes 1 Share

Re: Coca-cola Finally Acquires Chi Ltd by DesChyko(m): 8:48am On Feb 03, 2019
Onyemadonald:
..He also said that a majority of the customers of Coca-Cola were of the lower income cadre, ..

The way Bigi Cola has swept Coca Cola unto the sidelines in many regions refutes this claim o.
I still wonder how they managed to do it sef undecided

19 Likes 1 Share

Re: Coca-cola Finally Acquires Chi Ltd by DesChyko(m): 8:50am On Feb 03, 2019
lenghtinny:

For your mind, house of Chi is a threat to Coca cola angry

Of course.
Their juice range are ahead of Coca Cola. Whether the adult brands or kids brands.

15 Likes

Re: Coca-cola Finally Acquires Chi Ltd by cardoctor(m): 8:50am On Feb 03, 2019
Who get am before.
Re: Coca-cola Finally Acquires Chi Ltd by dingbang(m): 8:52am On Feb 03, 2019
Sugar everywhere

4 Likes

Re: Coca-cola Finally Acquires Chi Ltd by datola: 8:53am On Feb 03, 2019
Hmmm ... I hope the acquisition is not to kill the brand and/products.

I used to think Chi is owned by one sharp Chibuzor/eke igbo man.

4 Likes

Re: Coca-cola Finally Acquires Chi Ltd by 6ixT8: 8:53am On Feb 03, 2019
How will this reduce the price of bottle coke? undecided
Re: Coca-cola Finally Acquires Chi Ltd by Goldenheart(m): 8:53am On Feb 03, 2019
Oh well

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