In a report by Belfast Telegraph, Irn-Bru maker AG Barr said that its aborted deal with British softdrinks producer Britvic cost the former GBP4.9 million. The almost GBP5 million cost included fees for advisers and lawyers who had provided services to the deal and also expenses attributed to get the deal past the Competition Commission.
Barr, who is also maker of Rubicon and Tizer, however, had said that despite the distraction of the failed deal, it had managed to weather the tough market.
Barr counts the heatwave in July and its TV advertising campaign of the other Scottish national drink, Irn-Bru, helped the UK softdrink maker maintain its "strong market positions" in the six months ending July of this year. It has grown 5.8% in sales to GBP128.7 million. It recorded a 4.2% volume growth with 7% revenue increase in its fizzy drinks and 2% spike in its still drinks.
Barr chief executive Roger White said, "We successfully navigated the challenging market conditions in the early part of 2013 and have accelerated our growth in the second quarter."
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