TIDMBAG

RNS Number : 5970U

Barr(A.G.) PLC

06 December 2021

IMMEDIATE RELEASE 6 December 2021

A.G. BARR p.l.c.

("A.G. BARR" or "the Group")

Investment in MOMA Foods Limited, independent branded porridge and plant-based milk business

A.G. BARR produces and markets some of the UK's leading drinks brands, including IRN-BRU, Rubicon and Funkin.

We are delighted to announce that the Group has taken an initial c.60% equity stake in MOMA Foods Limited ("MOMA") with an agreed path to full ownership over the next 3 years.

MOMA was founded by Tom Mercer in 2006 and quickly established itself as a modern, challenger brand in the porridge market, using the finest quality, British jumbo oats. Most recently MOMA has diversified into the high growth plant-based milk sector, and is now the UK's 3rd largest oat milk brand. MOMA also produces a range of low sugar granola and bircher muesli branded products.

Tom Mercer, founder and CEO of MOMA Foods Limited , commented: "I'm hugely excited to embark on the next phase of MOMA's growth with AG Barr. I believe that together we can harness the passion that is integral to MOMA and grow into a significantly bigger brand. We're 100% focused on crafting oats into the tastiest food and drink products we can, and I'm looking forward to the next leg of our journey."

Roger White, CEO of AG Barr , commented: "I'm delighted that AG Barr is venturing into healthy oat-based products with such a great brand and an experienced team, led by Tom. Plant-based milk is a fast-growing category, in particular, and MOMA's oat milk is a premium quality product with huge potential. This exciting investment is a positive indication of AG Barr's growth ambitions."

The transaction is not expected to have a material impact on the Group's profits for the current financial year

ending 30   January 2022.

Next update : February 2022 Trading Update

For more information, please contact :

 
 A.G. BARR   0330 390 3900                   Instinctif Partners   020 7457 2020 
              Roger White, Chief Executive                          Justine Warren 
              Stuart Lorimer, Finance                               Matthew Smallwood 
              Director

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

MSCBCBDDBXGDGBU

(END) Dow Jones Newswires

December 06, 2021 02:00 ET (07:00 GMT)

Barr (a.g.) (LSE:BAG)
Historical Stock Chart
From Mar 2024 to Apr 2024 Click Here for more Barr (a.g.) Charts.
Barr (a.g.) (LSE:BAG)
Historical Stock Chart
From Apr 2023 to Apr 2024 Click Here for more Barr (a.g.) Charts.