AG Barr snaps up Funkin in £21 million deal

02 February, 2015

Soft drinks group AG Barr has snapped up cocktail mixer producer Funkin in a deal worth up to £21 million.

The maker of Scottish soft drink Irn Bru will pay an intial £16.5 million to Funkin's founding shareholders, plus up to a further £4.5 million depending on financial performance targets. 

Funkin offers a range of syrups, purees and cocktail mixers and has listings across the off-trade.

Its chief executive, Andrew King, will remain with the business under Barr's ownership and Funkin will operate within the Barr group as a “supported, yet standalone, business unit”.

Roger White, chief executive of AG Barr, said: “We believe that Funkin has created a unique niche in a growing market and together we can drive exciting growth in a new sub category.

“We have a proven track record of acquiring and developing high growth brands such as Rubicon.

“Under our ownership we believe Funkin is even more strongly positioned to take advantage of a number of exciting growth opportunities.”




Bookmark this


Site Search

COMMENT

Welcoming the wine rookie

It’s all true. Wine writers loaf around in a state of partial inebriation and partial undress, bitching about having to taste free wine all day and using recondite words like malolactic, terroir and recondite. 

Click for more »
Upcoming events

Polls

Is blended Scotch overshadowed by single malt in retailers?

  • Yes
  • No
  • Don't know

Facebook

Twitter