BGF has announced a €12.5m equity 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 their facility in Mullingar in County Westmeath.
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. Revive Active employs over 60 people across their head office in Galway and two production facilities in Mullingar. Their range of products includes 10 uniquely formulated products which offer benefits such as increased energy, immunity and general wellbeing.
Brand Ambassadors for Revive Active include female entrepreneur Pippa O’Connor, author and wellness entrepreneur Roz Purcell, Irish rugby star James Ryan and Irish professional footballer John Egan.
Once the investment is approved, Paul McGreevy will join the Board as the Non-Executive Chair and will invest alongside BGF. Paul is a former senior executive in the Body Shop International. He holds a number of non-executive positions. Leo Casey who leads BGF in Ireland will join the Board and Lauren Sharpe of BGF will join the Board as an observer.
Mazars and Addleshaw Goddard advised Revive Active on the deal. Beauchamps provided legal advice to BGF and Gara Ryan Tax and Business Consultants provided tax advice.
What Dáithí has achieved with Revive Active over the past 11 years is 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.
Leo Casey, BGF
Dáithí O’Connor, founder and managing director of Revive Active, said: “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.”
Paul McGreevy, incoming Non Executive Chairman of Revive Active, said: “I feel privileged to be joining such an ambitious team at this stage of growth and look forward to building on their incredibly successful journey as we expand the business. The uniqueness of Revive Active is in both its product offering and its culture, which is a fantastic foundation to build on.”