Irn-Bru maker AG Barr has announced the acquisition of the Rio soft drinks brand from Hall and Woodhouse Limited, the independent brewer and pub company, for £12.3 million.
Rio has been marketed, sold and distributed on an exclusive licence basis by AG Barr’s recently acquired Boost Drinks division since 2021.
With a brand building business model, and following the Boost acquisition, AG Barr said it wanted to secure the long-term position of the Rio brand within its wider portfolio.
“As brand builders we are delighted to acquire the Rio brand and secure its long-term position in our wider portfolio,” Roger White, AG Barr chief executive, commented.
“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.”
While an important contributor to the previously announced ongoing margin rebuild programme, AG Barr said the transaction is not expected to have a material impact on the group’s profits for the current financial year ending 28 January 2024.