Dairygold Health and Nutrition, part of Dairygold Co-Operative Society, has acquired a majority shareholding in Vita Actives, an Irish nutritional solutions provider.

Dublin-based Vita Actives had a turnover of just under €30 million in the 12 months to 31 August 2022 and a net profit of €5.3 million, according to its most recent set of accounts. The vast majority of the company's customers are outside Ireland, with only 3% of Vita Actives' revenue generated in this country.

The company employed 19 people.

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Today's announcement gave no indication of how much Dairygold paid for the majority shareholding, or what size the shareholding is - other than it being more than 50%.

Diversifying

Conor Galvin, Dairygold CEO, said: "The acquisition of Vita Actives is in line with our strategy of delivering incremental higher margin for the Society and our Members, and diversifying earnings.

"Since the establishment of the Dairygold Health and Nutrition business, we have been exploring and evaluating acquisition opportunities within the life stage nutrition sector."

Deepak Sharma, Viat Actives CEO, said: "This transaction is the perfect fit for us. I am excited to see what we will achieve in the coming years, in a sector that is growing at a rapid pace.”

George MacLeod, Dairygold's general manager for health and nutrition, said: "This transaction provides Dairygold health and nutrition with significant opportunities for future growth within the fast-growing life stage nutrition sector."

Dairygold health and nutrition is the division of the co-op behind its expansion into the Chinese market, with the Aerabo range of fortified whole-milk powder products.