Strategic ReportAccountsCorporate GovernanceAcquisition-related costsThe Group incurred acquisition-related costs of £1.2m (year to 30 January 2022 £0.2m) on legal fees and due diligence costs. These costs have been includedin 'Administrative expenses'.The goodwill arising represents potential revenue synergies. It is anticipated that on disposal, goodwill and brand will be deductible for tax purposes.The principal subsidiaries are as follows:Principal subsidiaryPrincipal activityCountry ofincorporationCountry of principaloperationsFUNKIN LimitedFUNKIN USA LimitedRubicon Drinks LimitedMOMA Foods LtdBoost Drinks LimitedDistribution and selling of cocktail solutionsDistribution and selling of cocktail solutionsDistribution of fruit based soft-drinksDistribution and selling of oat drinks and cerealsDistribution and selling of soft-drinksEnglandEnglandEnglandEnglandEnglandUKUKUKUKUKA.G. BARR p.l.c. holds 100% of the equity and votes of the subsidiaries. (Year ended 30 January 2022: 100% with the exception of MOMA: 68.2%). The subsidiaries have thesame year end as A.G. BARR p.l.c. and have been included in the Group consolidation. The companies listed are the trading subsidiaries. Refer to Note 31 for a full list ofsubsidiary companies.16. Investment in associatesIn June 2019, the Group made a £1m investment in Elegantly Spirited Limited, acquiring a 20% stake in the business. In November 2020, a £1m loan was provided as disclosedin Note 14.The following entities have been included in the consolidated financial statements using the equity method:% of ownership interestName of entityCountry of incorporation andprincipal place of businessElegantly Spirited LimitedUKCarrying amount2023%2022%2023£m2022£m20200.70.7The primary business of Elegantly Spirited Limited is a brand builder, marketing and selling a range of zero proof distilled spirits. The address of its registered office is19 Langham Street, London, England, W1W 6BP. This investment is consistent with our strategy of building a branded portfolio of products across both alcohol andnon-alcohol beverages. The investment is not considered a material associate and therefore disclosures are limited to the section below.175
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