Plant-based milk firm Rude Health bought by Finland’s Oddlygood
Rude Health reported sales of £23.8 million in the latest financial year and said it is on track to deliver £28 million in revenues this year.
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Your support makes all the difference.Plant-based food and drink firm Rude Health has been snapped up by Finnish firm Oddlygood.
Oddlygood, which is a plant-based subsidiary of dairy giant Valio, said the move is a step towards its ambition to become one of the sector’s leading companies in the UK.
The firms did not disclose the value of the deal.
Camilla Barnard, who co-founded the business with her ex-husband, told The Times that she expects to make a “seven figure” sum from the deal and stressed it was fortunate timing to close the deal before an expected increase in capital gains tax in Wednesday’s budget.
The two founded the business in 2005 before expanding it to become one of the UK’s largest plant-based milk manufacturers, as well as selling a raft of other products including granola.
Rude Health reported sales of £23.8 million in the latest financial year and said it is on track to deliver £28 million in revenues this year.
Ms Barnard said: “We created Rude Health at our kitchen table, to make healthy eating a celebration, not a sacrifice.
“From these basic beginnings mixing muesli we branched out into more cereals and then dairy alternative drinks.
“The Rude Health brand has grown beyond anything I could imagine to become a household name.
“Now is the right time to find a partner who can help take it to the next stage of success and Oddlygood shares so many values and the ambition to make this possible.”
Tim Smith, chief executive of Rude Health, said: “Joining forces with Oddlygood opens up new opportunities for growth and innovation, and our shared missions around taste, quality and the crucial role of plant-based food and drink make this a natural fit.”
Niko Vuorenmaa, chief executive of Oddlygood, said: “The UK market is notoriously competitive with established leaders but we believe that bringing these brands and teams together will reinvigorate the market and re-engage both new and existing users of plant-based products.
“We have total confidence in the future of the UK and European markets and the quality of the brands and the products now in our portfolio.”