LONDON (dpa-AFX) - A.G.BARR Plc (BAG.L), a Scottish soft drink maker, announced Tuesday that it has acquired the remaining 38.2 percent equity stake in MOMA Foods Limited from founder Tom Mercer, and the other minority shareholders, for a total cash consideration of 3.4 million pounds.
The company acquired its 61.8 percent stake in MOMA in December 2021. At that time, it had entered into an option deed with Mercer and the other remaining shareholders for full ownership in the following three years.
A.G. BARR now have the full control of the MOMA business, which will remain a standalone, supported business unit within the Group.
Regarding the full ownership, Roger White, CEO of A.G. BARR, said, 'This allows us to fully support the MOMA business and brand, such that we can leverage the increased growth potential sooner than allowed for under the original acquisition structure. The completion of the acquisition is a further positive indication of A.G. BARR's growth ambitions.'
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