Private equity investor BGF has announced a €12.5m investment in Galway-based Revive Active.
Revive Active is the No.1 supplement brand in Ireland and manufactures a range of super-supplement products at its facility in Mullingar.
The investment, which is subject to regulatory approval by the CCPC, will make BGF a minority investor in the business.
Revive Active was founded in 2011 by Dáithí O’Connor, who will remain the majority shareholder. The company employs 60 people at its head office in Galway and at the two production facilities in Mullingar.
BGF said that once the investment is approved, Paul McGreevy will join the board as the non-executive chairman and will invest alongside BGF. McGreevy is a former senior executive in the Body Shop International.
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The other BGF board appointees will be Leo Casey and Lauren Sharpe.
Dáithí O’Connor commented: “This investment will underpin out plans for significant growth over the next few years, including increasing our international export markets.
“We welcome the addition of Leo Casey of BGF and Paul McGreevy as director and chairman respectively to our board. Their experience and expertise will help bring our company to the next level.”
Leo Casey described the Revive Active achievement over the past 11 years as “incredible”.
“This will be our first investment in a Galway based business, and it is a wonderful example of a modern, successful Irish company which has carved out a significant export presence alongside a sector leading position here in Ireland,” Casey added.
According to Renatus, Mazars advised Revive Active on the deal, led by John Bowe and Eoin O'Keeffe. Legal assistance was sourced from Addleshaw Goddard.
Law firm Beauchamps provided legal advice to BGF, with lawyers Shaun O`Shea, Kyle Wimpress and Emily Harrington involved.
For brand promotion, Dáithí O’Connor and Revive Active deploy a number of brand ambassadors, including Pippa O’Connor, Roz Purcell, James Ryan and John Egan.
The latest ambassador is Northern Irish professional golfer Tom McKibbin, to promote the company's Zest Active supplement.
The 19-year-old Newtownabbey native recently turned professional and is set to play on the European Challenge Tour this year.
"I take Zest Active daily and I can honestly say it is a non-negotiable part of my daily routine," McKibbin said.
"Being a professional athlete requires stamina, concentration, and a very intense training regime and Zest Active most definitely helps me through my busy schedule."
Photo: Dáithí O’Connor (right) with BGF’s Joe Higgins. (Pic: Dillon Photography)
