The Scottish maker of Irn-Bru has bought an energy drinks brand in a deal worth up to £32million.
AG Barr, based in Cumbernauld, has acquired Boost Drink for an initial £20million, with a further performance-linked payout of up to £12million.
The energy, sport and protein beverage producer was founded in 2001. Boost's management team will continue to run the business, which will operate within Barr as a standalone unit.
The BBC says the deal brings with it an exclusive sales and distribution partnership with fruit drinks brand Rio.
In 2021, Leeds-based Boost reported revenue of £42.1million, with pre-tax tax profits of £1.9million.
Barr chief executive Roger White said the acquisition was "further evidence of our strategy to continue to grow the business through targeted acquisitions, with a particular focus on developing within high-growth and functional categories".
He added: "The Boost portfolio offers premium taste and performance at a competitive price, with a strong market position in the UK independent retail channel."
FTSE 100
The UK's top share index, the FTSE 100, was down five points at 7,562 shortly after opening this morning, following yesterday's 11-point gain.
Brent crude futures were 1.08% higher at $83.57 a barrel.
Companies reporting today
- Full-year results: Paragon Banking Group
- Second-quarter results: Ashtead Group