Irn-Bru maker AG Barr has acquired the remaining 38.2 per cent equity stake in MOMA Foods from founder Tom Mercer and the other minority shareholders for a total cash consideration of £3.4 million.
AG Barr has acquired 61.8 per cent stake in the porridge and oat milk maker in December 2021. At the time, it entered into an option deed with Mercer and the other remaining shareholders which gave it an agreed path to full ownership in the next three years.
AG Barr on Tuesday said MOMA shareholders have agreed to bring forward the acquisition of the remaining stake, giving the company full control of the MOMA business, which will remain a standalone, supported business unit within the group.
“We are delighted to bring forward the planned full ownership of the MOMA business,” Roger White, AG Barr chief executive, commented.
“This allows us to fully support the MOMA business and brand, such that we can leverage the increased growth potential sooner than allowed for under the original acquisition structure. The completion of the acquisition is a further positive indication of AG Barr’s growth ambitions.”
Earlier this month, AG Barr has acquired Boost Drinks, which will also operate as a standalone supported business unit within the AG Barr Group.
