Vimto owner snaps up VitHit in £64 million deal

Vimto owner Nichols has bolstered its portfolio with a £64 million takeover.

The soft drinks maker has bought VitHit.

London-listed Nichols says the deal is a “strategic milestone”, adding it plans to ramp up VitHit’s sales growth.

VitHit was founded by former professional rugby union player Gary Lavin in Dublin 25 years ago as a healthy alternative to sugary sports drinks.

Under the terms of the deal, the ex-Leinster and Harlequins player will step down after the sale of the brand.

Nichols has also pledged to keep VitHit’s Dublin office, adding it will be “supported by its management team, some of whom will step away after a smooth transition”.

From its founding, VitHit has expanded to 13 overseas markets and recorded £22.7 million revenues last year, delivering underlying profits of £3.5 million.

Andrew Milne, Nichols’ chief executive, said: “With its established market position, proven profitability and significant headroom for growth, VitHit perfectly fits the acquisition profile we have been looking for.

“Nichols is ideally placed to accelerate VitHit’s development through our commercial capabilities, customer relationships, route-to-market expertise and international infrastructure.”

Gary added: “Since launching VitHit more than 25 years ago, our ambition has always been to build a distinctive health and wellness drinks brand with broad consumer appeal.

“We are proud of what the team has achieved, and consider Nichols the ideal partner to support the next stage of the brand’s development.”

Want your business, product or service to be seen regionally and nationally? Bdaily helps you get your story in front of the right audience, every day. Find out how Bdaily can help →

Join more than 55,000 subscribers by signing up to our daily bulletin each morning here.