Acquired from independent brewer and pub company, Hall and Woodhouse Limited, tropical fruit brand Rio has been marketed, sold and distributed on an exclusive licence brand by AG Barr’s recently acquired Boost Drinks division for the last two years.
AG Barr started its journey off in a small factory in Scotland, Falkirk, growing into one of the UK’s leading independent soft drinks businesses. Following today’s announcement, it adds Rio to its range of leading brands including Irn Bru, Rubicon, FUNKIN and Boost.
This purchase of Rio has been funded from the Group’s strong net cash position and is not expected to have a material impact on its profits for the current financial year ending 28 January 2024.
“As brand builders we are delighted to acquire the Rio brand and secure its long-term position in our wider portfolio. 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,” said Roger White, AG Barr CEO.