Nichols owns Sunkist as well as Vimto, and has products in the carbonated, cordial and ready-diluted drinks markets.
Vimto, which was originally marketed as a medicine in the early 1900s, is holding its market share in the soft drinks market and has been finding success in the Middle East, India and Africa, according to newspaper reports.
The company saw little growth for the first half of this year, with a pre-tax profit of £2m against a loss of £2.17m the year before.
Sales dropped to £46.9m from £47.8m. The food business will be sold for about £10m.