Nichols plc, the North West soft drinks group and Vimto’s parent company, has acquired 100% of VITHIT Limited and its subsidiaries in a €75 million deal (approximately £64 million) on a debt-free, cash-free basis.
Founded in Dublin in 2001, VITHIT is a functional drinks brand offering a portfolio of low-calorie, low-sugar beverages fortified with vitamins and functional ingredients. VITHIT’s products offer 100% of the Recommended Daily Allowance of eight essential vitamins through a portfolio that spans bottled ready-to-drink beverages alongside sparkling cans and effervescent products.
The business has established market-leading positions in the UK and Ireland together with a presence across 13 other international markets. In the UK and Ireland, it has strong and diversified customer relationships across grocery, convenience, foodservice and specialist retail channels.
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For the financial year ended 31 December 2025, VITHIT generated revenue of €26.5 million, an adjusted operating profit of €4.2 million and adjusted PBT of €4.1 million.
The acquisition of VITHIT ”is consistent with the [Nichols] group’s strategic plan to selectively invest in differentiated soft drinks brands that strengthen its UK Packaged business and provide exposure to attractive growth categories.”
Nichols will retain VITHIT’s Dublin office, supported by its existing management team, some of whom will step away after a smooth transition, while chairman and founder, Gary Lavin, will step down from day one.
VITHIT provides Nichols with:
- A strengthened position within the significant and growing health and wellness segment of the soft drinks market.
- A leading brand with established market positions in the UK and Ireland.
- A highly complementary, asset-light operating model supporting synergies of more than €1 million per annum and a clear integration plan.
- Meaningful opportunities to accelerate VITHIT’s current sales growth by leveraging Nichols’ distribution capabilities, strong customer relationships, brand-building expertise and infrastructure.
The acquisition is expected to be immediately earnings enhancing and to generate returns comfortably in excess of the group’s cost of capital.
The board expects the acquisition will create long-term shareholder value through a combination of accelerated UK distribution gains, enhanced penetration within key retail customers, increased brand investment, procurement and operational efficiencies and leveraging of existing group infrastructure and capabilities. The board also sees an opportunity to accelerate VITHIT’s international growth by leveraging Nichols’ proven international operating model.
The acquisition has been funded through cash on Nichols’ balance sheet. The group remains net cash positive at 30 June 2026, and the group’s strong cash generation “will rebuild cash reserves over time.” A new revolving credit facility will be provided by NatWest post-acquisition for working capital purposes. Following completion, Nichols will retain substantial financial flexibility and reaffirms the recently improved dividend cover policy of 1.5x.
Andrew Milne, chief executive officer of Nichols plc, said: “We are delighted to announce the acquisition of VITHIT – an outstanding brand with a differentiated product operating in a rapidly growing soft drinks category. With its established market position, alignment with our asset-light operating model, proven profitability and significant headroom for growth, VITHIT perfectly fits the acquisition profile we have been looking for and is fully aligned with our long-term growth strategy.
“The brand has built strong market positions in both the UK and Ireland, supported by a differentiated consumer proposition, high levels of customer loyalty and – above all – a great tasting portfolio of functional soft drinks. Nichols is ideally placed to accelerate VITHIT’s development through our commercial capabilities, customer relationships, route-to-market expertise and international infrastructure. A significant opportunity exists to expand distribution across the Group’s existing customer base.
“The acquisition is immediately earnings enhancing and is expected to generate attractive returns for shareholders and strengthen our ability to deliver sustainable long-term growth. We are delighted to welcome the VITHIT team to Nichols and look forward to working together to realise the significant opportunities ahead.”
Gary Lavin, exiting founder of VITHIT, added: “Since launching VITHIT more than twenty-five 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.
“Nichols brings proven brand-building expertise, strong customer relationships and significant commercial capabilities, while sharing our long-term approach to growth.
“We are excited about the opportunities this creates for VITHIT, its colleagues, customers and consumers.”
