Yemisi Izuora
Stanbic IBTC Holdings Plc, said it supported UAC of Nigeria Plc, in its landmark acquisition of CHI Limited, delivering end-to-end financial support towards its successful completion.
Stanbic IBTC, in its capacity as Mandated Lead Arranger and Global Coordinator, partnered closely with UAC to structure a multi-product investment banking solution and financing package tailored to UAC’s objectives in executing a complex transaction.
Beyond arranging the facility, Stanbic IBTC provided a truly comprehensive solution, mobilising our full product suite, with our Global Markets team designing hedging solutions to manage FX risk, while our Escrow services structured settlement flows aligned to the transaction’s requirements.
Crucially, by leveraging the broader Standard Bank platforms, Stanbic IBTC was able to combine its pan-African expertise, cross-border counsel with deep local knowledge to successfully close one of the most significant FMCG acquisitions in Nigeria.
This support enabled UAC to complete its acquisition of a 100% equity stake in CHI Limited on 03 October 2025.
CHI Limited is one of Nigeria’s biggest food and beverage companies, with a leading position in the dairy, juices, nectars, and snacks segment of the Nigerian consumer goods segment. Its flagship brands, Hollandia (milk and yoghurt) and Chivita (fruit juice) have become household staples, supported by a nationwide distribution network and proprietary technologies.
UAC of Nigeria PLC is one of Nigeria’s oldest institutions with history dating as far back as 1879. Today, UAC is a holding company with interests organised around four key verticals – Edibles and Feed, Packaged Food and Beverages, Paints, and Quick Service Restaurants. They also own interests in a leading logistics services provider and a real estate development company. Creator of iconic brands such as Gala, Mr Bigg’s, Dulux, Grand, Supreme, UAC has shaped industries and consumer culture for over a century and remains a symbol of resilience, innovation, and leadership in Nigerian enterprise.
This acquisition enables UAC to expand its reach in the FMCG sector, accelerating entry into new product categories while consolidating its leadership position. Through the acquisition, UAC gains immediate access to CHI’s established distribution network, proprietary technologies, and a portfolio of dominant household brands in juice, dairy, and snacks. CHI’s strong brand equity, particularly in the dairy and fruit juice segments, compliments UAC’s ambition of building a powerful platform for growth and enhanced market penetration.
Speaking on the acquisition, Funke Ijaiya-Oladipo, Group Finance Director of UAC, stated: “This acquisition represents a transformative step for UAC as we expand our presence in the FMCG sector. Stanbic IBTC’s ability to provide an integrated, end-to-end financing solution, backed by the wider Standard Bank Group, was instrumental in helping us achieve this milestone through a flawless execution that gave us confidence throughout the process.”
“This transaction underscores our ability to deliver integrated solutions across advisory, structuring and execution. We are proud to have partnered with UAC on a transformative acquisition that not only advances their growth ambitions but also contributes to Nigeria’s economic development.” Oladele Sotubo, Chief Executive of Stanbic IBTC Capital Limited, remarked.