AG Barr has acquired full control of Moma Foods for a total of £3.4 million.
The drinks firm bought a 61.8% stake in Moma in December 2021, with the option to purchase the remaining shares in the following three years.
With full control of the business, the company will remain as a standalone, supported business within the group.
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Moma Foods was launched in 2006 by founder Tom Mercer, offering a range of oat-based porridges and drinks. The brand has since grown and developed and is now available in supermarkets nationwide.
“We are delighted to bring forward the planned full ownership of the Moma business,” chief executive of AG Barr, Roger White said.
He added: “This allows us to fully support the Moma business and brand, such that we can leverage the increased growth potential sooner than allowed for under the original acquisition structure.
“The completion of the acquisition is a further positive indication of AG Barr’s growth ambitions.”
Speaking at the time of AG Barr’s original majority purchase, Tom Mercer said “I’m hugely excited to embark on the next phase of Moma’s growth with AG Barr.
“I believe that together we can harness the passion that is integral to Moma and grow into a significantly bigger brand.
“We’re 100% focused on crafting oats into the tastiest food and drink products we can, and i’m looking forward to the next leg of the journey.”
The news comes as the boss of Irn Bru manufacturer AG Barr said it has seen “strong momentum” over the past year but is still facing rising pressure from price inflation and production costs.
