After taking a minority stake in 2016, Atlanta’s Coca-Cola Co. has completed its plan to buy Nigerian juice and dairy beverage brand Chi.
Those segments are among the fastest growing in Nigeria, a country of more than 170 million people where Coke has long been present. Chi has been around since 1980 making Chivita juice and Hollandia dairy drinks, along with iced tea.
Coke’s executives said Chi will help drive growth in Nigeria and across the continent.
“Coca-Cola is continuing to evolve as a total beverage company, and Chi’s diverse range of beverages perfectly complements our existing portfolio, enabling us to accelerate expansion into new categories and grow our business in Africa,” said Peter Njonjo, president of the West Africa business unit of Coca-Col, in a news release.
All over the world, Coke has been rapidly expanding its exposure in beverage categories far beyond the bubbly sodas it’s known for as consumer preferences shift. Some international launches like Minute Maid Pulpy in China have become billion-dollar brands for the company.