A.G. Barr has bought a 60 per cent stake in porridge and oat milk maker MOMA Foods with an agreed path to full ownership over the next three years, as it forays into the fast-growing plant-based milk sector, the British soft drinks maker said on Monday (6).
The recent investment by A.G. Barr, the owner of Irn-Bru, Rubicon and Funkin, will be its first move outside drinks category.
London-based MOMA Foods was founded in 2006 and has been deemed as “modern challenger brand” in the porridge market with its British jumbo oats. The company also produces range of low sugar granola and bircher muesli branded products.
Roger White, CEO of A.G.Barr said, “I am delighted that AG Barr is venturing into healthy oat-based products with such a great brand and experienced team, led by Tom.”
“Plant-based milk is a fast growing category, in particular, and MOMA’s oat milk is a premium quality product with huge potential. This exciting investment is a positive indication of AG Barr’s growth ambitions.”
Tom Mercer, founder and CEO of Moma Foods, commented: “I’m hugely excited to embark on the next phase of Moma’s growth with AG Barr. I believe that together we can harness the passion that is integral to Moma and grow into a significantly bigger brand. We’re 100% focused on crafting oats into the tastiest food and drink products we can and I’m looking forward to the next leg of our journey.”
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