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Barr agrees to acquire Rubicon

Aug 05 2008

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Scottish-based soft drinks group A.G Barr has announced an agreement to purchase Rubicon for an initial £59.8 million, subject to shareholder approval. This deal will give Barr a stronger foothold in the £1.6 billion UK still and juice drinks market. The acquisition excludes the brand rights outside the EU, except in certain neighbouring states such as Russia.

Barr, which owns the IRN-BRU brands, has been working with Rubicon for the last 20 years, manufacturing its carbonated drinks and thus already has a close working relationship.

Barr will be looking from this deal to make £1.5 million in cost savings, to diversify their portfolio and give them increased exposure to the growing juice rinks segment of the soft drink market. The market grew by approximately 37.4 per cent between 2003 and 2007.

In 2007, Rubicon had sales of £27.3 million and an operating profit of £2.2 million.

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