AG Barr invests in non-alcoholic spirits business
Elegantly Spirited boasts a portfolio of zero-proof spirits under its Stryyk brand and represents AG Barr’s first venture into the area.
As part of the deal, soft drinks manufacturer AG Barr’s subsidiary business Funkin has sealed a long-term agreement to act as exclusive UK distributor for all Elegantly Spirited Limited products. AG Barr Group has invested an initial £1m for a 20% minority stake in the new business.
Funkin
Elegantly Spirited was recently formed by entrepreneurs Alex Carlton and Andrew King. They are the original founders of the Funkin business, which was acquired by AG Barr in 2016 and has grown strongly in the cocktail market. King has continued his involvement with the Funkin business since the transfer of ownership and will remain Funkin’s executive chairman.
“More and more consumers are seeking a drink that adds positively to their social experience, but without the side effects of alcohol,” said AG Barr chief executive Roger White.
“We're very excited to be involved in both investing in and growing the Stryyk brand in this new and fast-moving consumer category.”
AG Barr’s UK brands include energy drink Rockstar, Irn Bru, Rubicon and Snapple. At the end of last month, the company announced plans to introduce a new 24/7 production line at its Milton Keynes facility to cope with demand, boosting capacity by 3.2m cases a year.
