Surely the Scots can’t be bored with their beloved Irn-Bru? Whatever the case, the Scottish institution behind their favourite fizzy tipple has decided to splash out on the exotic fruit drink maker Rubicon.

AG Barr, which also makes Tizer, the soft drink, will pay £59.8 million for the manufacturer and distributor of guava and papaya fruit drinks.

The deal will allow the Scottish company to push further into juice drinks and build its presence in the South East of England in a market that was worth £1.67 billion in 2007 and is growing strongly. Barr already makes the carbonated form of Rubicon’s drinks, but now it will take on its still juice factory in South Wales.

Rubicon’s sales have grown strongly in recent years, hitting £27.3 million last year, benefiting from a more active marketing profile. Barr’s management aim to use their own experience to increase growth still; further. AG Barr shares rose 15p to £11.60, with analysts welcoming the move alongside confirmation that revenue remains about 4 per cent ahead of last year.

There was relief for AEA Technology, up 5¼p to 47¼p, after 83.12 per cent of its shareholders decided to take up its four-for-five £33.3 million rights issue. RBS Hoare Govett will now seek to place the rest of the shares. The fundraising will allow the climate change consultancy to fund the acquisition of Project Performance Corporation, a Washington-based environmental consultancy business, which represents AEA’s entry into the United States after years of careful evaluation.

There was less cheer for investors in the bingo hall group Top Ten Holdings, which fell 0.875p to 3.5p, after it swung to a first-half loss, blaming a “very challenging environment”.

Explore Markets

• United States

• Europe

• Japan

• China

• Russia

• The Gulf

• India

• Africa

Times Recommends

• C&G axed - 1,660 jobs to be lost
• UK house prices rise 1.1% as buyers return
• Mixed reaction to US banks repaying bailouts