Irn-Bru maker A.G.Barr has announced that its sales and distribution contract with energy drink company Rockstar Inc will terminate on 23 August 2020.
The company also said that it received the notice of termination of the contract.
Rockstar energy drinks accounted for approximately 8% of the A.G.Barr’s sales volumes in the financial year, up to 1 November 2020, the group noted.
One Off-Compensation
Rockstar said that it will will pay a one-off compensation to the soft drinks maker, as per the terms of the contract.
The value of the compensation will be calculated post the contract termination date, the company added.
In March of this year, PepsiCo announced plans to buy Rockstar Energy Beverages for €3.39 billion ($3.85 billion).
AGM
A.G.Barr's Annual General Meeting (AGM) will be held at its head office today (25 June 2020) at 9:30am, the group said in a statement.
'In light of Government restrictions in response to the COVID-19 outbreak in the United Kingdom, and as previously communicated to shareholders, attendance in person will not be permitted at the AGM,' it added.
© 2020 Checkout – your source for the latest Irish retail news. Article by Donna Ahern. Click sign-up to subscribe to Checkout.
