AG Barr has confirmed the acquisition of two functional water brands in the UK.

The soft drinks company said today (11 January) that it has completed the purchase of the Vitaminsmart and Vitsmart brands from Chartered Brands. Total consideration should be GBP350,000 (US$685,000), including an element of stage payments, based on future sales performance.

Barr said the move gives the company "a headstart into the fast growing functional waters sub category and … has existing business to build on in the vitamin enhanced water sector".

Last year, Vitsmart generated sales of around GBP1m.

"The Vitsmart and Vitaminsmart brands will allow us a credible early entry into this rapidly growing sector with great brands and products which have existing retail distribution and consumers," said Barr's CEO, Roger White. "We plan to accelerate the development of our activity in this sector and believe this acquisition gives us a strong foundation."

Last month, Barr said that sales in the year to the end of October were up by 5% on the corresponding period a year earlier. The poor weather in the summer meant that sales in the 13 weeks to 27 October, however, rose by only 1%.