UK: AG Barr acquires Taut International, whilst trading in-line
AG Barr has acquired Taut International, including the Taut (UK) business responsible for the Taut sports drinks range, for a nominal consideration of GBP1.
In a statement, AG Barr said that the unaudited consolidated accounts for Taut (UK) and Taut International for the year ended 31 December 2006 show a loss for the year of GBP1.3 million and gross assets of approximately GBP1m.
The Taut U. business sells and markets in the UK the Taut range of sports drinks which were launched in 2003.
AG Barr said the Taut acquisition will not have a material impact on its 2008/09 financial performance.
Meanwhile, the maker of Irn Bru reported that its full year trading results are all anticipated to be in line with expectations.
The company said today (24 January) that, despite trading for the financial year ending 26 January being hit by poor weather during the summer, the soft drinks market performed well during its final quarter.
The year saw the installation and commissioning of a GBP6.5m (US$12.8m) can line at its Cumbernauld site, the closure of its Atherton site, and the Irn Bru sponsorship of the Scottish Football Leagues, said the company.
During the year's trading, Barr also launched the Rockstar energy drink to the UK marketplace as well as acquiring Vitsmart and Vitaminsmart water brands.
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