Latest news with #Innate-Essence
Wales Online
5 days ago
- Business
- Wales Online
Welsh football star's £15m payday after becoming businessman
Welsh football star's £15m payday after becoming businessman Hal Robson-Kanu was one of the Wales Euro 2016 side's heroes but has gone on to a whole different type of success after quitting the game Footballer Thomas Hal Robson-Kanu is the founder of Turmeric Co (Image: Turmeric Co) The nutritional drinks firm of former Welsh football star Hal Robson-Kanu, Innate-Essence, has been majority bought by top beverage manufacturer AG Barr in a £15m deal. Innate-Essence is the company behind the Turmeric Co and Raw Hydrate brands. Mr Robson-Kanu revealed his inspiration to start the business came from the role turmeric shots played in his recovery from a potentially career-ending knee injury. Both parties have stated that the initial £15m investment for a 51.1% stake will be used to "turbo-charge" global expansion, further develop the brand's retail proposition, and invest more deeply into marketing. The company's growth so far has been supported by monthly recurring subscriptions, successful nationwide launches in Sainsbury's and Ocado, and placement in David Lloyd Clubs. It has also formed strategic partnerships with Premier League teams such as Everton and Brentford, Premiership Rugby teams Sale Sharks and Leicester Tigers, and British Gymnastics. BDO and Pinsent Masons provided advice to Innate-Essence on the investment by the Cumbernauld-based and London Stock Exchange listed drinks giant, reports BusinessLive. Chief executive of Innate-Essence Mr Robson-Kanu said: "I created the brand as a convenient and great-tasting way to support wellness-conscious individuals and sportspeople like me. "We've had a remarkable few years but with this latest milestone and such heavyweight backing, it feels like our journey is just beginning – we've unlocked a new level. "The international potential is huge and we can't wait to see what we achieve next. Article continues below "BDO's understanding of our sector and merger and acquisition expertise has been key to our success and getting this investment over the line." AG Barr's flagship soft drink brands include household names Irn-Bru and Boost. In a trading update to the London Stock Exchange the Scottish firm revealed that first half 2025-26 revenues are anticipated to reach approximately £228m, marking a 3% increase from the £221.3m recorded in the first half of 2024-25.
The Herald Scotland
02-08-2025
- Business
- The Herald Scotland
Drinks giant acquires stake in former football star's firm
The purchase of the majority stake in Innate-Essence is the latest diversification by Barr beyond its core fizzy drinks specialism, with Innate-Essence joining a portfolio which includes MOMA oat milk and Funkin, the cocktail puree and ready-to-drink brand. Read Scott Wright's story here Allan Dowie, left, and Benny Higgins. (Image: Wbg) A former bank chief and adviser to a First Minister has been appointed as chairman of a Scottish accountancy firm. Wbg has appointed Benny Higgins, the former Tesco Bank chief executive who advised Nicola Sturgeon on the new national investment bank, to the role. Currently chairman of Glasgow-based investment firm N4 Partners, whose seven-figure investment last year made it the majority shareholder of Wbg, Mr Higgins succeeds Lorna Jack as chairman of the accountancy firm. Having overseen a series of acquisitions, the opening of a new office network and the rebranding of the companies within the group structure to Wbg, Ms Jack, former chief executive at The Law Society for Scotland, current chairman of Highlands and Islands Airports, vice chair of Scottish Funding Council and honorary consul for the Netherlands in Scotland, steps back from her role as Wbg chair to become a member of N4's advisory board. Read Brian Donnelly's article here Ross County chairman sells three firms to Mitsui of Japan GEG and Ross County chairman Roy MacGregor, left, during a Scottish Cup fourth round match away to Hamilton Academical in January 2023, in Hamilton. (Image: Roddy Scott - SNS Group) The chairman of Ross County Football Club has sold off a significant chunk of his Highland business empire.
The Herald Scotland
29-07-2025
- Business
- The Herald Scotland
Irn-Bru buys majority stake in former Wales striker's firm
The purchase of the majority stake in Innate-Essence is the latest diversification by Barr beyond its core fizzy drinks specialism, with Innate-Essence joining a portfolio which includes MOMA oat milk and Funkin, the cocktail puree and ready-to-drink brand. The Barr portfolio was also expanded with the acquisition of energy drinks Boost in a deal worth up to £32m in December 2022. However, the company took the decision to axe its Strathmore bottled water brand in March this year. It announced today that it has concluded the sale of the Strathmore brand and the Forfar production site to Ty Nant, 'negatively impacting revenue in the short-term but not profit'. A filing at Companies House shows that AG Barr chief executive Euan Sutherland and finance chief Stuart Lorimer were appointed directors of Innate-Essence earlier this month. Read more: Barr noted today that the deal for Innate-Essence was 'consistent with the company's strategy of acquisitions and innovation in high growth, health focused, functional beverage categories', adding: 'The investment has been funded from the company's net cash position. It is not expected to have a significant impact on revenue or profit in the current financial year.' The deal was announced as Barr signalled that it expects revenue to increase by around 3% to in the region of £228 million in the first half, with adjusted operating margin to be ahead of last year at 15% versus 13%. It anticipates the margin improvement will be driven by 'improved manufacturing efficiencies, ongoing benefits from our strategic business improvement initiatives and continued disciplined cost management'. Barr noted that momentum had increased as the period progressed, with several record volume weeks reported in the second quarter. It said brand performance was led by Boost, which delivered double-digit percentage growth. Sales of Irn-Bru and fruit juice brand Rubicon were flat in the first half, with a stronger performance in the second quarter, while growth in the off-trade for Funkin helped to mitigate challenges in the on-trade. Mulling the outlook, the company made no changes to its revenue and profit expectations for the full-year. Mr Sutherland said: "We are pleased to report continued revenue growth and strong profit growth in the first half of the financial year. Trading improved during H1, and we enter H2 with strong momentum and continued progress on margin improvement as our strategic initiatives continue to deliver. I am also excited about our expansion into the functional beverage segment working alongside Thomas Robson-Kanu and the Innate-Essence team. Our full year guidance remains unchanged and in line with market expectations." Analysts at Shore Capital reiterated their expectations for the company to deliver an adjusted pre-tax profit of £65m for the full year. Barr said: 'We have made excellent progress with operating margin during H1 and expect to deliver a full year result in line with expectations after taking into account a planned higher level of marketing activity in H2.' Shares in AG Barr closed down 2.16%, or 15p, at 680p.
