Barr(A.G.) PLC Acquisition of tropical drinks brand Rio (0199R)
24 Octobre 2023 - 8:05AM
UK Regulatory
TIDMBAG
RNS Number : 0199R
Barr(A.G.) PLC
24 October 2023
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION
FOR IMMEDIATE RELEASE 2 4 October 2023
A.G. BARR p.l.c.
("A.G. BARR" or "the Group")
A.G. BARR is a branded multi-beverage business with a portfolio
of market-leading UK brands, including IRN-BRU, Rubicon, FUNKIN and
Boost.
Acquisition of tropical drinks brand Rio further extends
portfolio
A.G. BARR today announces the acquisition of the Rio soft drinks
brand through the purchase of Rio Tropical Limited.
Acquired from Hall and Woodhouse Limited, the independent brewer
and pub company, for a total cash consideration of GBP12.3m,
tropical fruit brand Rio has been marketed, sold and distributed on
an exclusive licence basis by A.G. BARR's recently acquired Boost
Drinks division since 2021. The acquisition is entirely funded from
the Group's strong net cash position.
With a brand building business model, and following the Boost
acquisition, we have moved quickly to secure the long-term position
of the Rio brand within our wider portfolio. While an important
contributor to the previously announced ongoing margin rebuild
programme, the transaction is not expected to have a material
impact on the Group's profits for the current financial year ending
28 January 2024.
Roger White, CEO of AG BARR , commented: "As brand builders we
are delighted to acquire the Rio brand and secure its long-term
position in our wider portfolio. This allows us to realise the
benefits of full brand ownership and support Rio's continued
growth. This acquisition is a further positive indication of our
strategic ambitions."
Next update: January 2024 Trading Update
For more information, please contact:
A.G. BARR 0330 390 3900 Instinctif Partners 020 7457 2020
Roger White, Chief Executive Justine Warren
Stuart Lorimer, Finance Director Matthew Smallwood
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END
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