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Irn-Bru maker A.G. Barr to cut 195 jobs as part of reorganisation

Reuters
·1-min read

(Reuters) - Irn-Bru maker A.G. Barr said on Thursday it planned to cut 195 jobs as part of a proposed business reorganisation and integrate the popular Boost energy drink brand with its broader soft drinks unit.

The company also said the reorganisation would result in the closure of its Moston, Wednesbury and Dagenham operations in England that offered direct-to-store service to independent retailers under the "Barr Direct" model.

The announcement comes a month after the company said former Saga Plc boss Euan Sutherland, a veteran in the consumer goods industry, would take over as CEO from May 1.

Last month, A.G. Barr forecast an about 14% rise in annual profit at 49.5 million pounds ($63 million), slightly ahead of market view, partly helped by strength in its specialty coffee business and price hikes.

The Boost brand was acquired in a 32-million-pound deal in late 2022 and was run as a standalone business.

Shares in the company were up 1.7% at 1525 GMT.

($1 = 0.7854 pounds)

(Reporting by Eva Mathews in Bengaluru; Editing by Anil D'Silva)