Houlihan Lokey advises Oumph! in Livekindly.co acquisition
Vegan and vegetarian collective Livekindly.co has acquired the Swedish brand for an undisclosed sum
Houlihan Lokey has served as exclusive financial advisor to Oumph!, the plant-based brand founded by the Swedish company Food for Progress. The deal sees Oumph! join the brands in the Livekindly.co portfolio.
Founded in 2014, Oumph! is an award-winning brand. The company seeks to help create a sustainable and secure worldwide food system, and it is targeting a wider audience and aims to draw the attention of more people to plant-based food.
Describing the business, Houlihan Lokey said: “In a category dominated by free-from claims, Oumph! stands out for its disruptive messaging along with its unique taste and texture. Since its launch in 2015, the brand has become a favourite among a wider audience across markets, driving new consumers to the plant-based category.”
Houlihan Lokey reported Oumph! is enjoying a strong sales development, and a 40% growth for Q1 2020 across all markets.
Livekindly.co is a major player in the vegan and vegetarian lifestyle. The company has closed three acquisition in 2020 as the business seeks to become the market leader in the plant-based food space with a focus on sustainability and low carbon footprint across the supply chain.
To this day, the Livekindly.co portfolio of brands includes German meat alternative LikeMeat, the plant-based brand Fry’s Family of South Africa, and Livekindly, the media company, where the business took its name from.
Committed to transforming the global food system, Livekindly.co. has established strategic partnerships with seed growers, producers, and distributors and invested in infrastructure to transform traditional meat production facilities into centres for plant-based products.
Speaking to NutritionInvestor, Houlihan Lokey’s Giuseppe Iozzolino said the transaction reinforces the firm as the leading M&A advisor in the food and drink sector.