Soft drinks maker Nichols has announced the acquisition of 100% of the shares in Vithit Limited and its subsidiaries for a cash consideration of €75 million. Nichols funded the acquisition through its balance sheet and expects to rebuild its cash reserves in the future. 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.” The deal builds on the company’s strategic focus on its UK operations and expanding its portfolio of differentiated soft drinks brands. […]“We are delighted to welcome the Vithit team to Nichols and look forward to working together to realise the significant opportunities ahead.”