Fizzing Nichols makes Ben Shaws swoop

VIMTO owner Nichols plc said it would trump City profit forecasts this year and was buying the dispense drink business of Yorkshire firm Ben Shaws.

Newton-le-Willows-based Nichols, which is listed on AIM, said it saw  an “exceptionally strong” 2009 with revenues “considerably up” on the previous year.

Shares in the firm, which also makes Sunkist and Panda drinks, jumped 5%.
The price paid for the Ben Shaws unity was not disclosed.

The Huddersfield-based business, which supplies the leisure sector with draught soft drinks, consolidates Nichols’ position as the third-biggest player in the market. The company said it expects the acquisition to contribute to earnings this year.

Nichols said it had continued the “positive momentum” from a 28% rise in sales during the first half of the year.

Chairman John Nichols – great-grandson of founder John Noel Nichols- said: “Despite the economic downturn, we had an exceptionally strong year, beating both our internal and the City’s forecasts and also increasing our market share significantly ahead of industry trends.

“With the acquisition of Ben Shaws consolidating our key position in the dispense market we view the future with confidence.”

The company will report full-year figures on March 24.