A.G. Barr, the Cumbernauld-based maker of Irn-Bru, Rubicon energy drinks and Funkin cocktail mixers, announced it has acquired the remaining 38.2% equity stake in MOMA Foods Limited from founder Tom Mercer and other minority shareholders for £3.4m.
MOMA is a porridge and plant-based milk business.
“When A.G. Barr, acquired its 61.8% stake in MOMA in December 2021, it entered into an option deed with Tom Mercer and the other remaining shareholders which gave it an agreed path to full ownership in the following three years,” said Barr.
“A.G. Barr, and the remaining MOMA shareholders have agreed to bring forward the acquisition of the remaining 38.2% equity stake.
“This will give A.G. Barr, full control of the MOMA business, which will remain a standalone, supported business unit within the group.”
Barr CEO Roger White said: “We are delighted to bring forward the planned full ownership of the MOMA business.
“This allows us to fully support the MOMA business and brand, such that we can leverage the increased growth potential sooner than allowed for under the original acquisition structure.
“The completion of the acquisition is a further positive indication of A.G. Barr,’s growth ambitions.”