A.G. Barr has taken full control of MOMA Foods, the maker of plant-based milk alternatives that it acquired a majority stake in December 2021.
The owner of the Irn-Bru and Rubicon soft drink brands announced today that it had acquired the remaining 38.2% equity stake in MOMA from its founder Tom Mercer and other shareholders for a total cash consideration of £3.4m.
When A.G. Barr acquired the 61.8% stake in MOMA last year, it entered into an option deed which gave it an agreed path to full ownership in the following three years. However, both sides agreed to bring forward the acquisition of the remaining stake to give A.G. Barr full control. The company noted that the MOMA business will remain a standalone unit within the group.
“We are delighted to bring forward the planned full ownership of the MOMA business,” said Roger White, CEO of A.G. Barr.
“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.”
Moma was founded by Mercer in 2006 as a challenger brand in the porridge market. The firm then diversified into the plant-based milk sector and is now a leading oat milk brand in the UK. Moma also produces a range of granola and bircher muesli branded products. Its products are sold in supermarkets, health food stores and independent cafés and restaurants.
