![](https://d3bgjz3sm2qy7i.cloudfront.net/wp-content/uploads/2024/08/WEBPAGE-BANNER-TEMPLATE.jpg)
Piper Alderman advises OMG on sale to ASX-listed Forbidden Foods
19/08/2024
Piper Alderman is advising plant-based milk operation Oat Milk Goodness (OMG) on the sale of 100% of its shares to ASX-listed Forbidden Foods Limited (ASX: FFF).
OMG, founded by Steve Smith, Tony Adams and Daniel Rootes in 2019, was established to develop a home-grown oat milk product that takes advantage of Australia’s abundant supply of natural oats, and is also free of industrial seed oils such as canola, rapeseed or sunflower oil which can cause inflammation.
The sale of OMG reflects a merger of equals whereby OMG’s leading range of plant-based milk products will complement FFF’s Blue Dinosaur healthy snack range.
Oat Milk Goodness co-founder, Steve Smith, commented:
“We are excited to have entered into this SPA with Forbidden Foods and are confident that it will provide a springboard for OMG’s future growth. While there are a number of synergies between the businesses, OMG has the potential to benefit from the agreement through access to capital markets and international expansion opportunities. I would like to take this opportunity to thank all shareholders, as well as key management for their support as we progress the business’ next phase of growth.”
Piper Alderman advised on all aspects of the transaction to date, including due diligence and preparing and negotiating all transaction documentation. Piper Alderman will continue to advise OMG on the steps towards completion.
The Piper Alderman deal team was led by Partner Paul Sartori with Associate Allyson Yule.
The deal is expected to complete in mid to late September.
Further information can be found in the announcement here.