Boost Drinks acquired by AG Barr Group
The soft drinks brand, Boost Drinks has been acquired by AG Barr for an initial consideration of £20 million.
AG Barr, owner of Irn-Bru, said it sees “significant potential” for further growth of the Boost range and development of its product portfolio, leveraging the group’s scale.
Established in 2001, Boost Drinks are most well-known for their range of energy drinks, incorporating protein drinks, sports drinks, fruity drinks, chocolate drinks, sparkling and still.
It has developed a “strong market position in the UK independent retail channel”, with a focus on value. During 2021, it made a pre-tax profit of £1.9m on a turnover of £42.1m.
The deal with AG Barr includes an additional payment of up to £12m, dependent on future revenue and profitability performance of the Boost business over a two-year period. The existing management team at Boost, led by founder Simon Gray and his wife, Alison, will continue to run the business, which will be a standalone business unit within the AG Barr Group.
Chief Executive Officer of AG Barr, Roger White said Boost is “one of the UK’s most recognisable functional drinks brands”.
“The Boost portfolio offers premium taste and performance at a competitive price, with a strong market position in the UK independent retail channel. With AG Barr’s proven track record of acquiring and developing attractive brands, such as Rubicon and Funkin, I look forward to working with Simon and the team to ensure Boost continues to grow and develop under our ownership,” he said.”
Simon Gray said he was “hugely excited” to move towards the next phase of Boost’s growth.
“Over the past 20 years, Boost has proven its popularity with consumers who want great-tasting, high-performing functional drinks that offer great value for money, and I am sure that as part of the AG Barr Group we will maintain our strong growth trajectory.”