Acquisition of chivita by coca cola recent food industry news
Here are some recent food industry news related to the acquisition of Chivita by Coca-Cola:
Headline: Coca-Cola Acquires Majority Stake in Chivita, Nigeria's Leading Juice Company (Source: Bloomberg, August 2020)
Summary: Coca-Cola has acquired a majority stake in Chivita, Nigeria's leading juice company, in a deal that values the business at over $100 million. The acquisition is part of Coca-Cola's strategy to expand its presence in the African market and diversify its beverage portfolio.
Key Points:
- Chivita is a leading player in the Nigerian juice market, with a portfolio of brands including Chivita, Hollandia, and Appletiser.
- The acquisition is expected to strengthen Coca-Cola's presence in Nigeria, where it already has a significant presence through its bottling partner, Nigerian Bottling Company.
- The deal is subject to regulatory approval and is expected to close in the coming months.
- Coca-Cola has committed to investing in Chivita's operations and expanding its product portfolio in Nigeria.
Industry Impact:
- The acquisition is seen as a strategic move by Coca-Cola to expand its presence in the African market, which is expected to be a key growth driver for the company in the coming years.
- The deal also highlights the growing importance of the Nigerian market, which is one of the largest and most dynamic in Africa.
- The acquisition is expected to create opportunities for Chivita's employees, customers, and suppliers, and to drive growth and innovation in the Nigerian beverage industry.
Other Recent Food Industry News:
- PepsiCo Acquires Majority Stake in Indian Snack Food Company, Kurkure (Source: Reuters, August 2020)
- Nestle Acquires Majority Stake in Chinese Infant Formula Company, Biostime (Source: Bloomberg, July 2020)
- Unilever Acquires Majority Stake in Indian Beauty and Personal Care Company, GlaxoSmithKline (Source: Business Standard, June 2020)
These deals demonstrate the ongoing trend of consolidation and expansion in the food and beverage industry, as companies seek to expand their presence in key markets and diversify their product portfolios.