A.G. BARR, the maker of iconic brand IRN-BRU along with Rubicon, Strathmore and Funkin, has invested an initial £1m for a 20% minority stake in non-alcoholic adult drink start-up Elegantly Spirited Limited, the owner of the STRYYK brand.
As part of the minority investment, A.G. Barr’s subsidiary business Funkin has entered into a long-term agreement to act as exclusive UK distributor for all Elegantly Spirited Limited products.
Elegantly Spirited Limited is a recently formed venture from entrepreneurs Alex Carlton and Andrew King, original founders of the Funkin business.
Funkin was acquired by A.G. Barr in 2016 and has grown strongly in the cocktail market. Andrew King has continued his involvement with the Funkin business since the transfer of ownership and will remain Funkin’s Executive Chairman.
Roger White, A.G. Barr Chief Executive, commented:
“More and more consumers are seeking a drink that adds positively to their social experience but without the side effects 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”.