UK: AG Barr takes minority investment in Elegantly Spirited

AG Barr, the UK drinks firm behind the Irn-Bru and Rubicon brands, has announced a minority investment in the start-up alcohol-free spirits business Elegantly Spirited, owner of the Stryyk brand.

As part of the minority investment, AG Barr said its Funkin subsidiary has entered into a long-term agreement to act as exclusive UK distributor for all Elegantly Spirited products, in addition to the AG Barr group investing an initial £1 million ($1.3 million) for a 20% minority stake in the new business.

Products in the Strykk portfolio are called Not Rum, Not Gin and Not Vodka, and are said to offer “all the spirit, none of the alcohol”.

Commenting on the launch, AG Barr chief executive Roger White said: “More and more consumers are seeking a drink that adds positively to their social experience but without the side effects of alcohol. We’re very excited to be involved in both investing in and growing the STRYYK brand in this new and fast moving consumer category”.

Source: AG Barr (via RNS) / Elegantly Spirited