Subscriber login Close [x]
remember me
You are not logged in.

AG Barr buys cocktail mixer firm Funkin

Published:  03 February, 2015

Scottish soft drinks group AG Barr, the maker of Irn Bru, has bought cocktail mixer firm Funkin for up to £21 million.

Scottish soft drinks group AG Barr, the makers of Irn Bru, has bought cocktail mixer firm Funkin for up to £21 million.

The group has paid £16.5 million now, with a further £4.5 million payable subject to hitting financial targets.  

Funkin makes fruit purees, cocktail mixers and syrups, and it targets bars and increasingly restaurants. Although UK-focused it has set up fledgling operations in the US and Europe. It turned over £9 million in 2014.

The acquisition moves AG Barr into the cocktail mixer segment, which has enjoyed growth in the last number of years.

AG Barr's plan for the firm is to continue targeting its on-trade business as well as "leveraging" AG Barr's routes to market and branding expertise. AG Barr also plans to ramp up sales of the cocktail mixers overseas.  

Funkin chief executive Andrew King will remain with the company, which will operate as a standalone business unit.

AG Barr's chief executive Roger White 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."

Keywords: