Mr Barr has been with the business for 62 years and served as chairman for 31 years. He will not seek re-election at the company’s AGM in May.

The company also announced that Julie Barr, a qualified corporate lawyer who has been with the company for 19 years, will relinquish her company secretarial duties and is expected to join the board as a non-executive director.

Chairman Mark Allen said: “We are hugely indebted to Robin for all his years of service, not to mention the balanced and insightful guidance he has provided to the board as the business has developed across the last 60 years or so.

“I am delighted that Julie will join the board in due course and I am certain her experience and skills will complement and further strengthen our board capabilities.”

The announcements come alongside the company’s annual results for the year ended 29 January 2023. The business reported adjusted profit before tax of £43.5 million, an 13.3% increase, on an 18.2% increase in reported revenue. The board has recommended a full year dividend of 13.1p per share.

On the results, chief executive Roger White commented: “Over the past 12 months we delivered an excellent financial performance and made significant progress across our strategic objectives, an achievement only made possible by our committed and hardworking teams.

“Our strategy to build and develop a multi-beverage portfolio capable of significant long-term growth is progressing well. We are now in an investment phase, designed to capitalise on the strategic growth opportunities ahead.

“We do anticipate a short-term impact on operating margins, as a result of the combination of this investment, ongoing inflationary cost pressures, and the initial dilutive impact from the Boost acquisition.

“This growth and investment phase will support the rebuilding of our operating margin over the medium term and the creation of a stronger and more sustainable business.”