AG Barr, the UK-based soft drinks firm, has announced the acquisition of soft drinks brand Rio from independent brewer Hall and Woodhouse in a deal worth £12.3 million ($15 million).
The acquisition will complement AG Barr’s current portfolio, which includes brands such as Irn-Bru, Boost, Funkin, and Rubicon.
The Rio brand has been marketed, sold and distributed on an exclusive licence basis by AG Barr’s recently-acquired Boost Drinks division since 2021.
Commenting on the acquisition, AG Barr CEO Roger White said: “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”, he added.
Source: AG Barr