Vimto owner snaps up VitHit drinks brand for £64m

The VitHit healthy drinks brand founded by former professional rugby player Gary Lavin has been bought by Vimto owner Nichols for 75 million euros (£64 million).Mr Lavin – who played for Leinster and Harlequins – will step down after the sale of the brand, which he launched in Dublin 25 years ago as a healthy alternative to sugary sports drinks.The brand has since expanded to 13 overseas markets and made more than 26.5 million euros (£22.7 million) of revenues last year, delivering underlying profits of 4.1 million euros (£3.5 million).London-listed Nichols said the acquisition was a “strategic milestone” for the group, adding it has plans to ramp up the VitHit brand’s sales growth.Mr Lavin said: “Since launching VitHit more than 25 years ago, our ambition has always been to build a distin