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A.G. BARR Announces Termination Of Rockstar Franchise Contract

A.G. BARR plc (BAG.L) confirmed receipt of the notice of termination of its sale and distribution contract with Rockstar Inc.

The contract will terminate on 23 August 2020 but it is anticipated that A.G. BARR will continue to manufacture, sell and distribute Rockstar energy drinks, which contributed about 8% of the Group's sales volumes in the prior financial year, up to 1 November 2020.

As per the terms of the contract, a one-off compensation payment will be paid to the Group, to be calculated post the contract termination date.

A.G. BARR said that trading continues to be adversely impacted by the COVID-19 lock-down measures introduced on 23 March 2020, with trends affecting major retail, impulse and hospitality channels continuing as previously indicated. At the current time it remains difficult to predict how the balance of the financial year will evolve, with the easing of lock-down restrictions and resulting impact on consumer purchasing patterns.

The company's Annual General Meeting will be held at its head office on 25 June 2020.

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