Stanbic IBTC Holdings Plc has played a major role in the acquisition of CHI Limited by UAC of Nigeria Plc, acting as the mandated lead arranger and delivering a full financial solution that helped bring the landmark deal to completion.
The holding company, in a statement on Sunday, disclosed that it also served as the Global Coordinator for the transaction. According to the statement, Stanbic IBTC worked closely with UAC to design a multi-product investment banking solution and financing package that met the company’s acquisition goals.
UAC had first announced the acquisition of CHI Limited in July, marking a significant expansion of its footprint in the fast-moving consumer goods (FMCG) sector. The deal was recently cleared by the Federal Competition and Consumer Protection Commission, paving the way for the final transfer of ownership.
Speaking on the acquisition, Group Finance Director of UAC, Funke Ijaiya-Oladipo, described the transaction as a major turning point for the company. “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,” she said.
Chief Executive of Stanbic IBTC Capital Limited, Oladele Sotubo, also commended the collaboration and the strategic importance of the transaction. “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,” Sotubo said.
Stanbic IBTC noted that beyond arranging the facility, it mobilised resources across its various divisions to provide a complete financial solution. Its Global Markets team developed hedging solutions to manage foreign exchange risks, while its escrow services ensured that settlement flows were properly structured to align with the transaction requirements.
By leveraging the broader Standard Bank Group’s expertise, Stanbic IBTC combined local market understanding with pan-African financial experience to deliver one of the most significant FMCG acquisitions in Nigeria in recent years. This multi-layered support helped UAC to finalise the acquisition of a 100 per cent equity stake in CHI Limited on October 3, 2025.
CHI Limited is one of Nigeria’s largest food and beverage companies, known for popular brands in the dairy, juice, nectar, and snacks segments. Its product portfolio includes several household names that have maintained strong consumer loyalty over the years.
UAC of Nigeria Plc, one of the country’s oldest business institutions, was established in 1879 and has evolved into a diversified holding company. Its operations span four main business areas: Edibles and Animal Feed, Packaged Food and Beverages, Paints, and Quick Service Restaurants. The company also maintains interests in logistics and real estate development.
With the acquisition of CHI Limited, UAC aims to strengthen its market position in the food and beverage sector, deepen its penetration in existing product categories, and diversify into new segments. The transaction grants UAC immediate access to CHI’s extensive distribution network, proprietary technologies, and strong brand equity across Nigeria’s consumer market.
Industry analysts have described the acquisition as a bold strategic move that reinforces UAC’s leadership within Nigeria’s FMCG space. It also highlights the growing role of financial institutions like Stanbic IBTC in facilitating complex mergers and acquisitions that shape the structure of key industries.
For Stanbic IBTC, the deal showcases its ability to deliver comprehensive investment banking services that go beyond traditional financing. Through its collaboration with the Standard Bank Group, the institution continues to demonstrate capacity to provide world-class advisory and financing support to Nigerian corporates pursuing expansion and diversification.
As competition in the FMCG industry intensifies, the UAC-CHI transaction is expected to create new synergies, improve supply chain efficiency, and enhance value for consumers. Both companies are well-positioned to benefit from the growing demand for high-quality packaged food and beverages in Nigeria.
The acquisition marks a new phase for UAC’s growth story, aligning with its long-term strategy to build a stronger and more integrated consumer goods portfolio. It also reinforces Stanbic IBTC’s role as a trusted partner for large-scale corporate transactions in Nigeria’s evolving business landscape.
