Skip to content
Search
AI Powered
Latest Stories

Boost Drinks bought by A.G. Barr for £32m

Boost Drinks bought by A.G. Barr for £32m
Simon Gray, Boost CEO

Boost Drinks announced this morning that they have been acquired by A.G Barr.

The IRN-BRU maker acquired Boost Drinks for an initial consideration of £20 million, funded from the group's cash reserves, and an additional consideration of up to £12 million, dependent on future revenue and profitability performance of the Boost business over a two year period from completion, payable in cash at the end of that period.


"We are delighted to inform you that as of 5th December 2022 Boost Drinks Holdings Limited has been acquired by A.G. Barr plc, the long established drinks company, well known for great brands such as IRN-BRU, Rubicon and Funkin," Simon Gray, chief executive of Boost Drinks, told in a communication to Asian Trader.

"This is a really exciting next step in Boost’s journey as AG Barr has a proven track record of acquiring and developing attractive brands. We are confident that together we will be even stronger positioned to take advantage of a number of exciting growth opportunities."

Gray said Boost will continue to be run independently from the office in Leeds, operating as a standalone supported business unit within the AG Barr Group.

"The Boost team under my leadership will remain exactly the same, as will the way we do business, and the products we offer," he added.

Roger White, A.G. Barr, chief executive, said: "Today's announcement is 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.

"Boost is one of the UK's most recognisable functional drinks brands, and we are delighted to welcome the team into the A.G. Barr Group. The Boost portfolio offers premium taste and performance at a competitive price, with a strong market position in the UK independent retail channel.

"With A.G. Barr's proven track record of acquiring and developing attractive brands such as Rubicon and Funkin, I look forward to working with Simon and the team to ensure Boost continues to grow and develop under our ownership."

For the year ended 31 December 2021 Boost's unaudited statutory revenue and profit before tax were £42.1 million and £1.9 million respectively with gross assets of £12.5 million.

More for you

Illegal vape seizures in Essex surge by 14,000%, highlighting the growing black market and calls for stricter regulations

Essex sees shocking 14,000 per cent surge in illegal vape seizures

Essex has seen a staggering rise of over 14,000 per cent in illegal vape seizures in the past 12 months, a new report has revealed.

The shocking figures place the county just behind the London Borough of Hillingdon for total seizures - which leading industry expert, Ben Johnson, Founder of Riot Labs, attributes to its proximity to Heathrow airport.

Keep ReadingShow less
long-term effects of vaping on children UK study
Photo: iStock

Vaping: Government begins decade-long child health study

Britain will investigate the long-term effects of vaping on children as young as eight in a decade-long study of their health and behaviour, the government said on Wednesday.

The government has been cracking down on the rapid rise of vaping among children, with estimates showing a quarter of 11- to 15-year-olds have tried it out.

Keep ReadingShow less
United Wholesale Dominates 2025 Scottish Wholesale Achievers Awards

Scottish Wholesale Achievers Awards

Scottish Wholesale Association

Scottish wholesalers celebrated at annual awards

United Wholesale, JW Filshill and CJ Lang & Sons emerged as the stars of Scotland wholesale world in the recently held annual Scottish Wholesale Achievers Awards.

Achievers, now in its 22nd year and organised by the Scottish Wholesale Association, recognises excellence across all sectors of the wholesale industry and the achievements that have made a difference to individuals, communities and businesses over the last year.

Keep ReadingShow less
Self-checkout tills at UK grocery store

Self-checkout at grocery store

iStock image

Debate heats up as community group calls to boycott self-checkouts

While a community group recently criticised self-service checkouts, saying automation lacks the "feel good factor", retailers maintain that rise in the trend is a response to changing consumer behaviour and the need of the hour.

Taking aim at self-checkouts in stores, Bridgwater Senior Citizens' Forum recently stated that such automation is replacing workers and damaging customer service.

Keep ReadingShow less