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A.G. Barr acquires full ownership of MOMA Foods

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Irn Bru maker A.G. Barr snaps up remaining stake in oat milk and porridge brand MOMA Foods as plant-based product boom continues

  • A.G. Barr previously acquired a 61.8% holding in MOMA Foods in December 2021
  • The FTSE 250 company acquired energy drinks supplier Boost earlier this month
  • Plant-based milk products are particularly popular amongst Gen Z and millennials

A.G. Barr has agreed to amass the remaining stake it doesn’t hold in oat milk producer MOMA Foods for £3.4million.

The Scottish soft drinks firm became the bulk owner of South London-based MOMA, which also sells porridge, granola and bircher muesli, when it bought a 61.8 per cent stake at the top of last yr.

On the time, it also struck an agreement whereby the 2 parties could exchange the remaining shares in three tranches over the next three years, thereby eventually giving A.G. Barr complete ownership.

Takeover: A.G. Barr became the bulk owner of MOMA, which sells porridge, granola and bircher muesli food, when it bought a 61.8 per cent stake at the top of last yr

Known for making Irn Bru and Tizer, the FTSE 250 firm’s latest deal comes amid a surge in the recognition of plant-based milk alternatives, including soy, almond and coconut.

They’re particularly well-loved amongst Gen Z and millennials, lots of whom are drawn to such products for environmental reasons, in addition to those that are lactose intolerant and vegan.

Cow’s milk stays by far the most well-liked milk amongst consumers, but research published over the summer by Kantar Group found that around one in three Britons had drunk plant-based milk within the previous three months.

MOMA was founded in 2006 by Tom Mercer, who was dismayed by the absence of healthy on-the-go breakfast meals while working as a management consultant at Bain & Company.

He launched his first stall, converted from an old filing cabinet, selling to commuters at Waterloo East Station, after which steadily opening more sites across other London railway destinations.

The business now sells its products across all the foremost British grocers, including Tesco, Sainsbury’s and Waitrose; in Selfridges department shops; pubs operated by JD Wetherspoon and on board EasyJet flights. 

Roger White, chief executive of AG Barr, commented: ‘We’re delighted to bring forward the planned full ownership of the MOMA business. 

‘This enables us to totally support the MOMA business and brand, such that we are able to leverage the increased growth potential ahead of allowed for under the unique acquisition structure. The completion of the acquisition is an additional positive indication of A.G. Barr’s growth ambitions.’ 

A.G. Barr’s latest move arrives a fortnight after it announced the takeover of energy drinks supplier Boost for £20million upfront, with as much as £12million extra depending on the division’s revenue and profit performance in the approaching two years.

Headquartered in Leeds, Boost was began by Simon Gray and his wife Alison in 2001 and scored £42.1million in turnover and pre-tax earnings of £1.9million last yr.

A.G. Barr shares slid back 0.2 per cent, or 1p, to 516p on Tuesday, although they’ve recovered by greater than 10 per cent since mid-October.

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