Dairygold acquires majority shareholding in Dublin-based nutritional provider

The purchase follows a record year for the company, recording a turnover of more than €1.65b in 2022

Pictured at the announcement of Dairygold’s acquisition of Vita Actives are (seated) Deepak Sharma, CEO Vita Actives; George MacLeod, General Manager Dairygold Health and Nutrition; (standing) Gerard O’ Dwyer, Dairygold Vice Chairman; Sean O’ Brien, Dairygold Chairman and Conor Galvin, Dairygold CEO. Picture. John Allen

Dairygold's Health and Nutrition division has acquired a majority shareholding in nutritional solutions provider, Vita Actives, which is currently entering the fast-growing life-stage nutrition sector.

Purchased for an undisclosed amount, Vita Actives was established in Dublin in 2006 by Deepak Sharma. It specialises in nutraceutical ingredients and solutions to more than 400 global customers across the functional foods, human nutrition, sports nutrition, health, wellness and cosmetic industries.

“This acquisition is a significant development for Dairygold and the first acquisition since we established the Dairygold Health and Nutrition business in 2020," said George MacLeod, General Manager of Dairygold Health and Nutrition.

"This transaction provides Dairygold Health and Nutrition with significant opportunities for future growth, within the fast-growing life stage nutrition sector."

The acquisition follows a record year for the dairy business, with turnover for its latest fiscal year reaching €1.65bn, up over 40% since 2021.

Operating profit rose by more than a third to €40.2m, up by just under €10m from the previous year, which the company said was achieved against a backdrop of "considerable volatility and inflationary pressures."

Speaking on the acquisition, Dairygold chief executive, Conor Galvin said the purchase was aligned with the company's strategy, adding that it will create "incremental higher margin for the Society and our Members, and diversifying earnings."

Welcoming the deal, Vita Actives CEO, Deepak Sharma said: “This transaction is the perfect fit for us. It will give Vita Actives the support we need to grow the business, through developing and growing our customer base, enhancing our research and development capabilities and will give us a strong platform to achieve the success I know we are capable of.