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The makers of Irn-Bru have bought energy drinks brand Boost in a deal worth up to £32m.

AG Barr has acquired 100% of Boost Drink's issued share capital for an initial sum of £20m, with a further performance-linked payout of up to £12m.

The energy, sport and protein beverage producer was founded in 2001.

Boost's management team will continue to run the business, which will operate within Barr as a standalone unit.

The deal brings with it an exclusive sales and distribution partnership with fruit drinks brand Rio.

In 2021, Leeds-based Boost reported revenue of £42.1m, with pre-tax tax profits of £1.9m.

Barr chief executive Roger White said the acquisition was "further evidence of our strategy to continue to grow the business through targeted acquisitions, with a particular focus on developing within high-growth and functional categories".

He added: "The Boost portfolio offers premium taste and performance at a competitive price, with a strong market position in the UK independent retail channel."