UAC leaves the delivery business it built for its own goods, while DP World keeps its majority.
Tropical General Investments (TGI) will buy UAC of Nigeria’s entire 43% stake in DP World Logistics Limited, the warehousing and distribution company formerly known as MDS Logistics. UAC announced the sale to the Nigerian Exchange on 24 September 2026. The price is undisclosed and the deal needs regulatory approval.
What changes hands
The buyer is 22 Plus Invest Limited, a TGI company. The business runs 19 distribution centres in Nigeria and handles more than 660,000 tonnes of goods a year. It also operates its own trucks, including refrigerated vehicles.
It was built to move UAC’s own merchandise before it took on outside manufacturers. DP World stays on as the majority owner.
What the two sides said
Fola Aiyesimoju, UAC’s group managing director, said the business had grown substantially and called TGI a long-term partner with deep knowledge of the Nigerian market. UAC described the sale as part of a continuing effort to refine its investment portfolio.
TGI’s Farouk Gumel said the purchase reflects a shared plan with DP World to change how trade and logistics work across Africa. He pointed to DP World’s global experience and TGI’s distribution network.
A long trail of owners
South Africa’s Imperial Logistics bought 49% of the business in 2016, raised that to 57% in 2019 and reached 65% in 2020. DP World bought Imperial in 2022 and renamed the Nigerian arm. UAC’s exit closes out that run of changes.
Why the drinks trade should watch
TGI operates across fast-moving consumer goods, agriculture and chemicals, among other sectors, and employs more than 25,000 people. A stake in a national warehousing and trucking network puts it closer to the route that carries packaged goods from factory to shop.
TGI also has a drinks history with UAC. It sold a 40% stake in CHI Limited, maker of Chivita and Hollandia, to Coca-Cola in 2016 for about $438 million, according to BusinessDay. Coca-Cola took full ownership in 2019, then sold CHI to UAC in a deal that closed on 3 October 2025. UAC now owns those brands but no longer holds a stake in the logistics company that began as its own delivery arm.
