Irn-Bru maker AG Barr invests in alcohol-free spirits start-up

Irn-Bru maker AG Barr has invested £1 million to secure a minority stake in an alcohol-free spirits start-up.

AG Barr has secured a 20 per centstake inElegantly Spirited. Picture: John Devlin

The Cumbernauld-based drinks giant has secured a 20 per cent stake in alcohol-free adult drinks firm Elegantly Spirited with the seven-figure sum.

Elegantly Spirited is the owner of the Stryyk brand, a new portfolio of zero-proof spirits.

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It is a recently formed venture from entrepreneurs Alex Carlton and Andrew King, founders of cocktail mixer company Funkin, which was acquired by AG Barr in 2016.

King has continued his involvement with the Funkin business since the transfer of ownership and will remain as its executive chairman.

Under the deal, Funkin has entered into a long-term agreement to act as exclusive UK distributor for all Elegantly Spirited products.

AG Barr chief executive Roger White said the decision comes on the back of increased demand for alcohol-free drinks.

He said: “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."