Nichols PLC, an AIM-listed soft drinks group, is buying Irish-founded VitHit for €75 million on a debt- and cash-free basis. The deal will see founder and chair Gary Lavin step down immediately and some of its management team will also leave after a transition period. Lavin, who lives in Dubai in the United Arab Emirates, will gross about €40 million from the sale of the business he founded in 2000.  A number of senior management are being significantly rewarded as part of the transaction. VitHit is a low-calorie, vitamin-enriched drink that has global sales in 15 markets.  Nichols said in…

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