Soft drinks manufacturer Nichols plc has acquired 100 per cent of the share capital of Dublin-based functional beverage producer VITHIT Limited in a cash transaction valued at €75 million (approximately £64 million).
The debt-free and cash-free acquisition strengthens the AIM-listed Vimto producer's portfolio, expanding its presence in the functional soft drinks category across UK, Irish, and international retail markets.
The acquisition aligns with Nichols' strategy to invest in differentiated soft drink brands operating in expanding health categories. VITHIT operates an asset-light business model complementary to Nichols' existing structure, with the integration expected to deliver annual cost synergies exceeding €1 million.
Funded entirely through existing cash reserves on Nichols' balance sheet, the transaction is expected to be immediately earnings-enhancing. Proforma accounting confirms Nichols remains net cash positive following the completion of the deal.
Andrew Milne, Chief Executive Officer of Nichols plc, stated that VITHIT represents a strong strategic fit for the group, combining brand equity, established profitability, and alignment with the group's long-term growth strategy.
Performance and Distribution
Founded in Dublin in 2001 by former rugby player Gary Lavin, VITHIT formulates low-calorie, low-sugar beverages fortified with vitamins and functional ingredients. The brand's product lines supply 100 per cent of the Recommended Daily Allowance (RDA) of eight essential vitamins, spanning ready-to-drink bottled beverages, canned sparkling ranges, and effervescent formats.
For the financial year ended 31 December 2025, VITHIT generated revenue of €26.5 million, representing growth of over 90 per cent since 2021. The business recorded an adjusted operating profit of €4.2 million and an adjusted profit before tax of €4.1 million over the same 12-month trading period.
VITHIT holds established retail positions across grocery, convenience, foodservice, and specialist channels in the UK and Ireland, along with an international footprint spanning 13 additional export markets.
Leadership Transition
Nichols will retain VITHIT's operational headquarters and office footprint in Dublin to maintain business continuity.
As part of the ownership transition, founder and Chairman Gary Lavin steps down from the business immediately. Select members of VITHIT's senior management team will support operations during an interim transition phase before stepping away, while core operating staff will integrate into the broader Nichols business structure.
