UAC Receives FCCPC Approval to Acquire CHI Limited, Makers of Chivita - Strategic Milestone Reached!
UAC Plc has received regulatory approval from the FCCPC to acquire CHI Limited, the makers of popular brands like Chivita and Hollandia. This move brings the acquisition closer to completion, marking a strategic milestone for UAC's expansion in the packaged food and beverage sector.
The deal aims to strengthen UAC's division, which already includes popular brands such as Gala and Supreme Ice Cream. UAC's Group Managing Director, Fola Aiyesimoju, expressed confidence in the acquisition process.
Legal guidance was provided by Fasken Martineau Templars, while Citi advised financially. Despite a decline in net profit, UAC recorded an increase in revenue in the first half of the year.
CHI Limited's CEO, Eelco Weber, looks forward to thriving under UAC's ownership.
Plus234Feed summary based on reporting from Legit NG. Read the original report below.
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