Coca-Cola has acquired a minority stake in Nigerian juice and dairy company, CHI, as it looks to accelerate its push in Africa while expanding its portfolio with healthier alternatives to fizzy drinks.
Coke paid around $240m for a 40 per cent stake in the CHI, which is owned by TGI Group, with plans to purchase the remaining 60 per cent within three years. The deal will help the drinks giant strengthen its modest 3.5 per cent share of the Middle East and Africa’s fragmented $8.03bn juice market.
The move illustrates Coke’s efforts to confront the decline of its fizzy drinks Read full story ›
Source: The Drum
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