AG Barr has acquired the Rio soft drinks brand through the purchase of Rio Tropical Limited from Hall and Woodhouse Limited.

The £12.3m acquisition, which was funded from Barr’s “strong net cash position”, is not expected to impact the group’s current financial year ending 28 January 2024.

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Rio has been marketed, sold and distributed under licence by Boost Drinks, which Barr acquired last year, since 2021.

Roger White, CEO of AG Barr, said: “As brand builders we are delighted to acquire the Rio brand and secure its long-term position in our wider portfolio. This allows us to realise the benefits of full brand ownership and support Rio’s continued growth. This acquisition is a further positive indication of our strategic ambitions.”

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