THE owner of Scotland’s other national drink, Irn-Bru, has taken over another well known drinks brand.
AG Barr, which has been making and selling soft drinks since setting up in Falkirk in 1875 has acquired the Rio brand.
The firm announced on Tuesday that it had purchased Rio Tropical Limited from brewery and pub company Hall and Woodhouse Limited, which is based in Dorset in south England.
AG Barr paid “a total cash consideration of £12.3 million,” adding in a press release: “Tropical fruit brand Rio has been marketed, sold and distributed on an exclusive licence basis by AG Barr’s recently acquired Boost Drinks division since 2021.
“The acquisition is entirely funded from the group's strong net cash position.”
Rio Tropical is made from fruit juice blended with sparkling water in Dorset. The drink includes orange, guava, mango, apricot and passion fruit flavours.
Rio, originally called Arriva, was created by Hall and Woodhouse Limited in 1980.
The firm also said that the acquisition was not expected to have a “material impact on the group’s profits for the current financial year ending 28 January 2024”.
Roger White, the chief executive of AG Barr, 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.”
