AG Barr has acquired the remaining 38.2% equity stake in Moma Foods from founder Tom Mercer and other minority shareholders for a total cash consideration of £3.4 million.

This latest announcement follows AG Barr’s acquisition of a 61.8% stake in Moma in December 2021 when it entered into an option deed with the founder and other remaining shareholders and established an agreed path to full ownership in the following three years.

The acquisition gives AG Barr full control of the Moma business, which will remain a standalone business within the company.

Roger White, CEO of AG Barr, said: “We are delighted to bring forward the planned full ownership of the Moma business. 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 AG Barr’s growth ambitions.”

Earlier this month, AG Barr announced the acquisition of energy drink brand Boost for an initial consideration of £20 million on a debt-free, cash-free basis.