Published • loading... • Updated
Nichols Buys Functional Soft Drinks Brand for £64M
Nichols said VitHit generated £26.5 million in revenue last year and called the deal earnings-enhancing, with founder Gary Lavin set to receive about £62 million.
- Nichols acquired 100pc of VitHit Ltd for £75m, integrating the functional soft-drinks brand into its portfolio alongside Vimto and Levi Roots.
- Gary Lavin founded the business after a knee injury ended his professional rugby career at Harlequins, building it into a firm where he owned roughly 83pc of shares.
- VitHit generated revenue of £26.5m last year with over 90pc sales growth since 2021, far exceeding the £9.3m valuation estimated in 2021 when sales were about half current levels.
- With the sale finalized, Gary Lavin will reap about £62m and stand down as chairman, while family members David Lavin and Troy Lavin, along with Michael Power, also exit the business.
- Nichols plans to leverage VitHit's established market position and asset-light operating model for expansion, viewing the acquisition as fully aligned with its long-term growth strategy in functional soft drinks.
Insights by Ground AI
15 Articles
15 Articles
Evening StandardReposted by 
The Argus
The ArgusFormer rugby player Gary Lavin founded VitHit in 2001.
·London, United Kingdom
Read Full Article
Former rugby player forced to retire through injury sells drinks company for £64m
Former rugby player Gary Lavin has completed a remarkable journey from seeing his sporting dreams ended by injury to selling the drinks company he founded for £64million. Lavin founded health and wellness drinks brand VitHit in 2000 after being forced to give up rugby because of a serious knee injury in his early 20s. Join RUCK’s Instagram broadcast channel and get the latest rugby news straight to your phone. More than 25 years later, the compa…
Coverage Details
Total News Sources15
Leaning Left2Leaning Right1Center3Last UpdatedBias Distribution50% Center
Bias Distribution
- 50% of the sources are Center
50% Center
L 33%
C 50%
R 17%
Factuality
To view factuality data please Upgrade to Premium
