logo
Plus   Neg
Share
Email

A.G. BARR Invests In Zero Proof Spirits Brand STRYYK - Quick Facts

A.G. BARR plc (BAG.L), a producer of drinks brands including IRN-BRU, Rubicon, Strathmore and Funkin, announced Friday a minority interest investment in new business start-up Elegantly Spirited Limited, which owns STRYYK brand.

Under the deal, A.G. Barr's subsidiary business Funkin has entered into a long-term agreement on normal market terms to act as exclusive UK distributor for all Elegantly Spirited Limited products. Further, A.G. Barr would invest an initial 1 million pounds for a 20% minority stake in the new business.

With the investment, Elegantly Spirited seeks to capitalise on the growing demand for non-alcoholic adult drinks. The company is bringing out a new portfolio of zero proof spirits under the STRYYK brand.

Roger White, A.G. Barr Chief Executive, said, "More and more consumers are seeking a drink that adds positively to their social experience but without the side effects of alcohol."

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Global PC shipments returned to growth in the second quarter of 2020 after seeing a significant decline in the preceding first quarter due to COVID-19 related supply-chain disruptions, according to reports by two research firms. The PC market returned to growth in the quarter as production ramped up and vendors restocked their supplies to near-normal levels. The bankruptcy filing of America's oldest apparel retailer Brooks Brothers has ignited significant interest from potential buyers for the brand. WHP Global and a venture backed by Authentic Brands Group LLC and Simon Property Group, Inc., are reportedly considering bids for the retailer. WHP Global owns the ANNE KLEIN and JOSEPH ABBOUD brands. Sundial Herbal Products has recalled around 65 products, which were misbranded and currently unapproved drugs, the U.S. Food and Drug Administration said in a statement. The recall follows an order by a federal judge in June to stop distributing the company's unapproved new drugs. The affected items include herbal products and dietary supplements.
RELATED NEWS
Follow RTT