AG Barr takes majority stake in oat milk brand Moma

The makers of Irn-Bru have bought a majority stake in one of the UK's biggest oat milk producers.

AG Barr said it had taken an initial equity stake of about 60% in Moma Foods, with "an agreed path to full ownership over the next three years".

Moma was founded in 2006 and established itself as a challenger brand in the porridge market.

It has since diversified into the plant-based milk sector, and is now the UK's third largest oat milk brand.

Moma also produces a range of low-sugar granola and bircher muesli branded products.

The value of the transaction was not disclosed.

AG Barr chief executive Roger White, said: "Plant-based milk is a fast-growing category, in particular, and Moma's oat milk is a premium quality product with huge potential.

"This exciting investment is a positive indication of AG Barr's growth ambitions."

Cumbernauld-based Barr said it did not expect the transaction to have a material impact on its profits for the current financial year.