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AG Barr reveals acquisition plansliz.wells@haymarket.com, 11 June 2008Be the first to comment on this article AG Barr, the maker of Irn-Bru and St Clement’s fruit drinks, has revealed that it is on the acquisition trail as it reported a “strong performance” in first quarter sales. The Cumbernauld-based firm said Irn-Bru, which had a major rebranding in 2007, had strong sales, but the Rockstar, Taut, Vitsmart and St Clement’s brands also contributed to the 4% increase in revenue. AG Barr chief executive Roger White said: “This is a strong performance especially when compared with an 11% like-for-like performance in the same period last year, which was boosted by above average weather and the positive impact of promotional phasing.” He added that the firm was interested in acquiring “good quality brands and businesses” that would provide “long-term value”. “Trading in May has seen the benefit of some improved weather however we continue to assume we will experience average weather conditions across the summer. Our trading outlook remains in line with expectations.” Vitsmart, bought from Chartered Brands in January and comprising six water products containing fruit juices and vitamins, is to be relaunched “in the near future”. AG Barr’s share price rose by 18p to £13.08 this morning. Speak Your Mind |
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