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Coca-Cola Acquires Yet Another Successful Company

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The Nigerian beverage market is ready to experience a major shakeup as Coca Cola eventually bought the entirety of Chi Limited.

Speaking during a press briefing at Eko Hotels in Lagos, Nigeria, Mr Peter Njonjo, President Coca-Cola West Africa, Business Unit, made it known that the beverage company had earlier bought 40% of Chi Limited in 2016 before taking the big step to fully acquire the firm this year.

The event was attended by top officials of both companies as well as some other stake holders.

Peter, while making the announcement, stated that the acquisition shows his side's commitment to continue soothing the tastes of their consumers.

According to him, the acquisition came about by a shift in the needs of consumers, and that a lot of Coca-Cola's customers are low income earners who appreciates products with low prices

He also said that the acquisition was an investment of great interest for Coca-Cola due to the manner the company had been erected in the country, and her impact on the Nigerian economy.

According to him, the brand will be grown into a global million dollar one over the next 10 years, and the hitherto locally distributed products of Chi Limited will be distributed internationally henceforth.

When asked if any products in the two firms may be collapsed, Peter responded with an assurance that none of the products in any of the companies will go down. Rather, he made known Coca-Cola's resolve to ensure that "all the products will coexist".

Chi Limited was established in Nigeria as far back as in 1980 and has been producing various products that caters for the average Nigerian family.

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