UAC of Nigeria PLC (“UACN”) has announced that it has signed a binding agreement to acquire Tiger Brands Limited’s minority shareholding in UAC Foods Limited (“UAC Foods”). UAC Foods is a majority owned subsidiary of UACN operating in the packaged food and beverages industry. Upon completion of the purchase, UAC Foods will continue to operate as a subsidiary of UACN providing nutrition to millions of Nigerians. The purchase is expected to be completed in September 2021.
