A significant wave of corporate activity is reshaping the Scottish business landscape, marked by a series of strategic acquisitions and pivotal leadership changes across various sectors. The drinks industry, in particular, has seen a major development with a prominent Scottish giant solidifying its market position through a notable takeover.
Irn-Bru maker AG Barr, renowned for its diverse portfolio, has further expanded its functional beverages division by acquiring a majority stake in Innate-Essence. This innovative company, home to The Turmeric Co, was founded by former Wales international footballer Thomas “Hal” Robson-Kanu, who famously leveraged turmeric shots as a “secret weapon” for injury recovery during his illustrious career. The initial £15 million investment underscores Barr’s commitment to this burgeoning health-focused market segment.
This strategic investment aligns with AG Barr’s ongoing diversification strategy, moving beyond its traditional fizzy drinks specialism. Innate-Essence now joins a robust portfolio that includes well-established brands like MOMA oat milk and Funkin, the popular cocktail puree and ready-to-drink brand, showcasing Barr’s ambition in the broader beverage and health sector.
In parallel, the financial leadership landscape in Scotland has also witnessed a significant appointment. Wbg, a distinguished Scottish accountancy firm, has welcomed Benny Higgins as its new chairman. Higgins brings a wealth of experience, having previously served as chief executive of Tesco Bank and as an adviser on the new national investment bank, reinforcing the firm’s strategic direction.
Mr. Higgins’ appointment comes as Wbg continues its growth trajectory, having overseen a series of successful acquisitions, the expansion of its office network, and a comprehensive rebranding effort across its group structure. He succeeds Lorna Jack, whose tenure saw substantial progress and who now transitions to an advisory role within N4 Partners, the majority shareholder of Wbg.
Further underscoring the dynamic shifts in Scottish commerce, Roy MacGregor, the chairman of Ross County Football Club and the Global Energy Group (GEG), has divested a substantial portion of his Highland business empire. GEG finalized a deal to offload three of its key companies to Mitsui, the formidable Japanese general trading conglomerate, signaling significant new investment and long-term economic growth prospects for the Nigg facility and the broader Highlands region.
Adding to the intricate web of corporate transactions, Wood, a global engineering and consulting company, has sold a stake in RWG to its existing joint venture partner, Siemens Energy Global. This move, according to Wood chief executive Ken Gilmartin, ensures “continuity” for both employees and customers. Concurrently, Wood is navigating an ongoing investigation by the Financial Conduct Authority (FCA) regarding “cultural failings” in its accounting practices, highlighting the scrutiny faced by major industry players.
These multifaceted transactions, spanning beverages, financial services, energy, and engineering, collectively paint a picture of a vibrant and evolving Scottish corporate scene. From health-centric acquisitions to strategic leadership transitions and significant industry consolidations, these developments underscore a period of intense activity and adaptation within the nation’s key economic sectors.
