LONDON (dpa-AFX) - A.G.BARR Plc (BAG.L), a Scottish soft drink maker, said on Monday that it has acquired Leeds-based Boost Drinks Holdings Ltd., for an initial consideration of 20 million pounds on a debt free, cash free basis, from its founder Simon Gray and his wife Alison.
An additional cash consideration of up to 12 million pounds will be based on the future revenue and profitability of the Boost business over a two year period.
The acquisition which is expected to add to A.G. BARR's earnings, is funded by its existing cash reserves.
For the year to December 31, 2021 Boost had reported a pre-tax income of 1.9 million pounds, on revenue of 42.1 million pounds.
Roger White, CEO of A.G. BARR, said: 'Today's announcement is further evidence of our strategy to continue to grow the business through targeted acquisitions, with a particular focus on developing within high growth and functional categories.'
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