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Cumbernauld's AG Barr apparently looking at £1bn bid for GSK brands

Written by Scott Campbell.
 
 
 
 
 
Published at 20:29 GMT on Friday, July 19th, 2013.

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Picture: courtesy of Bill Henry.
CUMBERNAULD-BASED manufacturer of Irn-Bru, AG Barr, appears to be interested in bidding for the Lucozade and Ribena brands after the firm’s corporate marriage with English rival Britvic lost its fizz. 

According to the Financial Times, AG Barr is apparently weighing up the possibility of whether or not to put in a £1billion bid for the two brands, which are being sold off by GlaxoSmithKline.

The announcement came after Barr’s merger with Britvic fell apart after Britvic rejected a revised deal, only days ago. 

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AG Barr has declined to comment on the suggestions, and there is no firm guarantee that the Scottish soft drink manufacturer will make any offer for the consumer healthcare products, although the firm is said to watching the brand auction, with interest. 

This week’s news follows an announcement by GlaxoSmithKline, in April that it intended to flog the brands off, by the end of this year, to the highest bidder, with names such as Suntory, a Japanese drinks manufacturer expected to be interested.

After making an improved offer to Britvic, AG Barr announced that the deal had collapsed, which sent many market analysts looking for possible avenues to which Barr could seek growth; the Lucozade and Ribena brands produced sales of about £600m last year, with many analysts predicting that the auction could be the most likely avenue for AG Barr to explore.

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