Scotland-headquartered A.G. Barr has been advertising and marketing, promoting and distributing Rio on an unique licence foundation by way of its Enhance Drinks division since 2021 (Enhance Drinks was acquired by A.G. Barr final yr).
It has now acquired the Rio model from Corridor and Woodhouse Restricted, an unbiased brewer and pub firm, for £12.3m ($15m).
Rio is a ‘scrumptious mix of 11% actual fruit and juice (orange, guava, apricot, mango and passionfruit) in flippantly glowing water’. The drink is gluten-free, dairy-free and appropriate for vegetarians and vegans.
The model was just lately reformulated from 10g sugar per 100ml to beneath 4.5g per 100ml, bringing it in beneath the edge of the UK’s sugar tax (Gentle Drinks Business Levy). It additionally gives a no added sugar model with 17 energy per 330ml can.
Rio joins A.G. Barr’s portfolio of well-known UK manufacturers comparable to IRN-BRU, Rubicon, FUNKIN and Enhance. In December the corporate additionally gained full possession of MOMA Meals, a barista-focused oat drink model.
“With a model constructing enterprise mannequin, and following the Enhance acquisition, we now have moved rapidly to safe the long-term place of the Rio model inside our wider portfolio,” says A.G. Barr.
“Whereas an vital contributor to the beforehand introduced ongoing margin rebuild program, the transaction just isn’t anticipated to have a fabric influence on the Group’s earnings for the present monetary yr ending 28 January 2024.”