(Sharecast News) - Irn Bru maker AG Barr said on Tuesday that it has bought the Rio Tropical soft drinks brand from independent brewer Hall and Woodhouse for £12.3m in cash.
The brand has been marketed, sold and distributed on an exclusive licence basis by AG Barr's recently-acquired Boost Drinks division since 2021.
Barr said the deal is not expected to have a material impact on profits for the current financial year ending 28 January 2024.
Chief executive Roger White said: "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."
Barr (A.G.) (BAG)