Jan. 11 - A.G.Barr p.l.c. the soft drinks group, today announces the acquisition of the Vitaminsmart and Vitsmart brands from Chartered Brands.
The acquisition of these brands gives Barr a headstart into the fast growing functional waters sub category and specifically has existing business to build on in the vitamin enhanced water sector.
Vitsmart had a retail sales value of approximately £1m in 2007. The total consideration is anticipated to be £350,000 including an element of stage payments, based on future sales performance.
Commenting Chief Executive, Roger White said: "The Vitsmart and Vitaminsmart brands will allow us a credible early entry into this rapidly growing sector with great brands and products which have existing retail distribution and consumers. We plan to accelerate the development of our activity in this sector and believe this acquisition gives us a strong foundation."
Vitsmart is a functional water containing fruit juices and vitamins.
The current range is made up of six products including three flavour variants forest fruits, passionfruit & orange and citrus fruits. The range can currently be found in selected Tesco, J Sainsbury and Wm Morrison stores in addition to other retail outlets throughout the UK.