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AGBarr, the owner of IrnBru, has acquired oatmeal milk maker Moma Foods as a first step into the wellness market.

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AGBarr, the owner of rnBru, entered the wellness market for the first time and handle buy DeptfordBase oat milk and porridge maker Moma Foods.

It’s a new step for Scotland Solid and now behind the classic soda, juice brand Rubycon And ready-made mixer Funkin’s cocktail. Acquired the first 60% stake in Moma- EnglandIs the third largest oat milk brand in Japan and has agreed on a path to full ownership over the next three years.

AG Barr seeks to harness the surge in millennial and Gen Z demand for plant-based alternative milks. This makes Moma’s rival Oatly worth billions of dollars.

Boss Roger White said he was happy to be in such a “fast-growing category.”

It will come as competition in space intensifies. Britvic, a fellow listed soft drink maker, acquired another London-based health drink brand, Prenish, for a private amount earlier this year. Founded in 2012 by New York-born entrepreneur Kara Rosen, the London-based company is in stock at Waitrose and M & S.

Launched in 2006 by founder Tom Mercer in southeast London, Moma also manufactures low-sugar granola and other oat-based products.

Mercer said he could grow his brand “significantly” by selling it to AG Bar.

AG Barr’s share price rose 1.2% (6.3p) to 526p in this morning’s update.

AGBarr, the owner of IrnBru, has acquired oatmeal milk maker Moma Foods as a first step into the wellness market.

Source link AGBarr, the owner of IrnBru, has acquired oatmeal milk maker Moma Foods as a first step into the wellness market.

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