Irn Bru owner AG Barr buys oat milk maker Moma Foods in firm’s first step into wellness market


rn Bru owner AG Barr has made a first move into the wellness market, signing a deal to buy Deptford-based oat milk and porridge maker Moma Foods.

It is a new step for the Scottish firm, currently behind the classic soda, juice brand Rubicon and pre-made mixers Funkin Cocktails. It has taken an initial 60% stake in Moma – the UK‘s third-biggest oat milk brand – and agreed a path to full ownership over the next three years.

AG Barr is looking to capitalise on soaring millennial and Gen Z demand for plant-based milk alternatives, which has seen rival Oatly valued in the billions.

Boss Roger White said he is delighted to be entering such a “fast-growing category”.

It comes as competition in the space heats up. Fellow listed soft drink producer Britvic snapped up another London-based health drink brand, Plenish, for an undisclosed sum earlier this year. The London-based company, which was founded in 2012 by New York-born entrepreneur Kara Rosen, is stocked in Waitrose and M&S.

READ MOREFranco Manca owner sees theatre land and City sites top 2019 takingsFTSE 100 Live: Travel stocks higher, wild weekend for bitcoinThe London pair slipstreaming Peloton with London fitness bike Apex Rides


Most exclusive members clubs in the world

Moma was launched in 2006 by founder Tom Mercer in south east London, and also makes low sugar granola and other oat-based products.

Mercer said selling to AG Barr will allow his brand to grow “significantly bigger”.

Shares in AG Barr rose 1.2%, or 6.3p, to 526p, this morning on the update.