Former Rugby Player Gary Lavin Sells Healthy Drinks Business VitHit for $82 Million

Gary Lavin, a former professional rugby player, is poised to receive a significant financial return after selling his healthy drinks brand, VitHit, to Nichols, the owner of Vimto. The acquisition is valued at £64 million, which is approximately $82 million USD.

Lavin, who previously played for Leinster and Harlequins, holds about 70 percent of VitHit. He founded the company in Dublin 25 years ago while recovering from a rugby injury, aiming to offer a healthier alternative to sugary sports drinks.

VitHit has established a presence in the UK and Ireland and has expanded its reach to 13 international markets. The company reported revenues exceeding £22 million and profits of £3.5 million last year.

Nichols has described the acquisition as a "strategic milestone" and intends to accelerate the growth of the VitHit brand. The company stated that VitHit aligns with its acquisition profile due to its market position, profitability, and growth potential. Nichols plans to leverage its commercial capabilities, customer relationships, and international infrastructure to expand VitHit's distribution.

Following the acquisition, VitHit's Dublin office will remain operational and will be supported by its current management team. Lavin, the founder, is set to step down from his role as chairman on the day of the acquisition, while some management team members may depart after a transition period.

Lavin expressed pride in the team's achievements and stated that Nichols is the ideal partner for the brand's next phase of development. He noted that the initial ambition was to build a health and wellness drinks brand with broad consumer appeal.