Irn Bru maker joins alcohol-free spirit sector
THE MAKER of Irn Bru is set to enter the alcohol-free spirits market for the first time, the company has announced.
AG Barr has spent £1m buying a 20 per cent minority stake in STRYYK, which makes alcoholfree rum, vodka and gin, and will also be the exclusive UK distributor for the brand’s parent company.
Chief executive Roger White explained why he wanted to tap into the market.
He said: “More and more consumers are seeking a drink that adds positively to their social experience but without the sideeffects of alcohol. We’re very excited to be involved in both investing in and growing the STRYYK brand in this new and fast-moving consumer category.”
STRYYK is the brand name for Elegantly Spirited Limited, which was founded by entrepreneurs Alex Carlton and Andrew King.
Mr King already knows the AG Barr bosses well, having sold his previous business – cocktail mixer maker Funkin – to the Scottish drinks giant in 2016.
Health-conscious millennials are driving the market in alcoholfree drinks and big-name brands including Heineken and Budweiser have invested heavily in alcohol-free versions of their beers.
Market research firm Nielsen recently revealed that Britons spent a record £57m on low or non-alcoholic beers in the 12 months to April – up 39 per cent on a year ago.
They also spent £48m on low or no-alcohol wines over the same period.
Non-alcoholic spirits, a market only three years old, is now worth £5m.
AG Barr was founded in 1875 by Robert Barr in Falkirk, Central Scotland.
Irn Bru would be launched 26 years later and quickly found popularity both inside and outside of Scotland.
The company was floated in the mid-1960s.
We’re excited to be involved in...this fast-moving consumer category. AG Barr chief executive Roger White.