LONDON (ShareCast) - Soft drinks group AG Barr is to diversity its portfolio further with the purchase of exotic juice drinks maker Rubicon for £59.8m.

Rubicon, which has offices in Wembley, North London and a manufacturing facility in Gwent, Wales, has had its drinks manufactured by Barr under a co-manufacuting arrangement over the past 20 years.

The takeover is subject to approval from Barr shareholders at an extraordinary general meeting.

“The acquisition is in line with our core strategy of developing our portfolio and increasing the scale of our business through differentiated quality brands, at the same time it strengthens our position in the growing juice drinks category,” Barr chief executive Roger White said.

Glasgow-based Barr’s signature product is Irn-Bru but it is also behind Orangina, Lipton Ice Tea and Findlay’s mineral water.

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