Shares of UAC of Nigeria Plc (UACN) surged 22.69% in the trading week ending 5 December 2025, pushing its quarter-to-date gain past 44% and trading above N96. The rally follows a strong November performance, when the stock rose 18.65% after a three-month decline starting in August, keeping it on track toward the N100 mark.
In early November, UACN deposited N19.2 billion in escrow as part of its acquisition of CHI Limited from Coca-Cola, makers of Chivita and Hollandia. On 20 November, the company held its first major investor and analyst briefing since the announcement, describing the acquisition as a strategic move with long-term growth potential.
Year-to-date, UACN has delivered a strong performance on the NGX, surging over 207%, well above the 144.75% gain recorded for the full 2024 fiscal year. The acquisition, executed through UACN’s wholly owned Special Purpose Vehicle, UAC Food and Beverage Company Limited, was funded with N30.8 billion from reserves and N151.6 billion via a 12-month USD bridge loan.
Finance Director Funke Ijaiya-Oladipo stated that a long-term refinancing plan is in place, including a fully underwritten 7-year Naira loan and a N150 billion SEC-approved bond programme. Group Managing Director Fola Aiyesimoju noted the timing of the deal capitalises on lower valuations and reduced competition.
The acquisition immediately expands UACN into drinking yoghurt, evaporated milk, and fruit juices and nectars markets. CHI’s brands—Chivita, Hollandia, Capri-Sun, and SuperBite—now join UACN’s existing portfolio of legacy products. Although acquisition-related costs impacted third-quarter 2025 financials, shareholder sentiment remained largely positive, with stock movements reflecting updates on the deal’s progress.
Shares are now approaching N100, priced around N96.80 in pre-market trading on 8 December 2025. The stock broke through the N70 resistance earlier this year, hitting highs above N80 and more recently N90. After starting the year at N32.95, shares rose steadily, spiking 96.33% to N80.30 in July following the acquisition announcement. Despite a dip to N66.50 in the following months, renewed momentum in November lifted prices to N78.90, with the December surge bringing them near N100.
