The board of directors will commence a formal succession process, inclusive of an external search, to facilitate a smooth transition of leadership.

Mark Allen, A.G. Barr chairman, said: “Roger has served the shareholders, Board, wider business and industry for over 21 years - this makes him one of the longest serving CEO’s in the UK public market.

“He has supported the transformation of the business from a regional soft drinks business into a highly successful multi beverage, branded company that has delivered significant value to shareholders, stakeholders and employees.

“A.G. Barr has a strong culture and momentum and is strategically well placed to continue to deliver for the long term.”

Mr White said: “It has been a privilege and pleasure to lead the business for over two decades and now the time is right to plan for my succession and to ensure the continued success of the business.

“I would like to pay tribute to everyone across the whole organisation who make A.G. Barr a very special place with amazing brands.”

A.G. Barr also released a trading update for the 26 weeks ending 30 July 2023. The firm anticipates a revenue of approximately £210 million for H1 2023, marking around a third’s growth compared to the previous year, or a like-for-like increase of 10% excluding the Boost Drinks acquisition.

This positive performance is attributed to brand momentum, higher pricing, and favourable weather conditions. The FUNKIN Cocktails brand continued to grow, while the recently acquired MOMA Foods reported significant growth. Despite margin pressures, the company’s full-year profit is expected to exceed analyst expectations.

Mr White commented: “In March we communicated that 2023/24 would be a year of investment across the business, supporting the Group’s long-term revenue and profit growth ambitions. I am pleased to report we have had a strong first half, despite ongoing macro cost challenges. Our focus remains on offering consumers great value, affordable brands.

“Our medium-term plan to rebuild the Group’s operating profit margin is progressing well across a range of activities, including supply chain optimisation, cost management and portfolio development.

“We have strong brand plans in place across the business for the balance of the year to sustain our growth momentum and we remain confident in the Group’s long-term growth strategy”.