AG Barr is entering the alcohol-free spirits market with the £1 million acquisition of a 20% stake in Stryyk owner Elegantly Spirited.
As part of the investment, AG Barr’s subsidiary Funkin has entered into an agreement to act as exclusive UK distributor for all Elegantly Spirited products.
UK-based Elegantly is a recently formed venture from entrepreneurs Alex Carlton and Andrew King, original founders of the Funkin business.
Funkin was acquired by AG Barr in 2016. Andrew King has continued his involvement with the Funkin business since the transfer of ownership and will remain Funkin’s executive chairman.
Elegantly Spirited is aiming to capitalise on the growing demand for non-alcoholic adult drinks with a portfolio of zero-proof spirits under the Stryyk brand. In December, a zero-alcohol Stryyk vodka alternative was launched, adding to its alcohol-free gin and rum.
“More and more consumers are seeking a drink that adds positively to their social experience but without the side effects of alcohol,” said AG Barr chief executive, Roger White.
“We’re very excited to be involved in both investing in and growing the Stryyk brand in this new and fast-moving consumer category.”
Scotland-based AG Barr – the owner of brands such as Irn-Bru, Rubicon and Strathmore – recently expanded its Rockstar energy drink brand in the UK with the launch of Rockstar Twister, as it aims to tap into the current trend for retro flavours.
In February, Funkin marked its 20th anniversary with a fresh redesign, rolling out across its portfolio of purées, syrups, shrubs, pre-batched mixers, garnishes and draught products. Last year, the business released a range of innovations, including a hemp-flavoured syrup and dried fruit garnishes.
© FoodBev Media Ltd 2019