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    BAG   GB00B6XZKY75

A.G. BARR P.L.C.

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Delayed London Stock Exchange  -  05/20 11:35:10 am EDT
536.00 GBX   +0.75%
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AG Barr bets on plant-based milk with majority stake in MOMA Foods

12/06/2021 | 04:23am EDT
FILE PHOTO: Irn Bru is seen on the shelves of Scotch Corner in Pitlochry, Scotland

(Reuters) - British soft drinks maker A.G. Barr said on Monday it bought a 60% stake in porridge and oat milk maker MOMA Foods as it forays into the fast-growing plant-based milk sector.

Best known for fizzy drink Irn-Bru, A.G. Barr said it had agreed to assume full ownership of MOMA Foods over the next three years.

Demand for vegan milk alternatives has risen in recent years, with much of the demand for plant-based food and drink being led by millennial and generation Z consumers.

MOMA Foods, founded by Tom Mercer in 2006 as a breakfast stall in a railway arch in south east London, also makes low-sugar granola and bircher muesli-branded products, and most recently diversified into oat milk.

"I'm delighted that AG Barr is venturing into healthy oat-based products with such a great brand and an experienced team, led by Tom," said A.G. Barr Chief Executive Officer Roger White.

(Reporting by Muhammed Husain in Bengaluru; Editing by Subhranshu Sahu)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
A.G. BARR P.L.C. 0.75% 536 Delayed Quote.3.47%
CLASS III MILK FUTURES (DC) - CMG (ELECTRONIC)/C1 -0.12% 25.09 End-of-day quote.36.37%
CLASS IV MILK?FUTURES (GDK) - CMG (ELECTRONIC)/C1 0.00% 25.04 End-of-day quote.26.02%
DRY WHEY?FUTURES (DY) - CMG (ELECTRONIC)/C1 0.00% 66 End-of-day quote.3.29%
NONFAT DRY MILK FUTURES (GNF) - CMG (ELECTRONIC)/C1 -0.30% 180.925 End-of-day quote.17.40%
S&P GSCI CLASS III MILK (USD) -0.80% 187.1678 Real-time Quote.19.93%
All news about A.G. BARR P.L.C.
05/12A.G. BARR P.L.C. : Ex-dividend day for final dividend
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04/21A G BARR P L C : Annual Report and Accounts FY 2021/22
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Financials
Sales 2023 282 M 351 M 351 M
Net income 2023 34,0 M 42,4 M 42,4 M
Net cash 2023 73,8 M 92,0 M 92,0 M
P/E ratio 2023 17,6x
Yield 2023 2,79%
Capitalization 596 M 743 M 743 M
EV / Sales 2023 1,85x
EV / Sales 2024 1,74x
Nbr of Employees 895
Free-Float 65,0%
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Mean consensus OUTPERFORM
Number of Analysts 8
Last Close Price 536,00 GBX
Average target price 624,50 GBX
Spread / Average Target 16,5%
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Managers and Directors
Roger Alexander White Chief Executive Officer & Executive Director
Stuart Lorimer Executive Director & Finance Director
Mark H. Allen Chairman
Craig Kenny Head-Information technology
David James Ritchie Independent Non-Executive Director