Barr Soft Drinks has bought a 60% stake in oat-based brand MOMA foods, with an agreed path to full ownership over the next three years.
MOMA was founded in 2006 as a challenger brand in the porridge market and has more recently diversified into the burgeoning plant-based milk sector; it is now the UK’s third-largest oat milk brand. MOMA also produces a range of low sugar granola and muesli products.
Tom Mercer, Founder and CEO of MOMA Foods, commented: “I’m hugely excited to embark on the next phase of MOMA’s growth with AG Barr. I believe that together we can harness the passion that is integral to MOMA and grow into a significantly bigger brand. We’re 100% focused on crafting oats into the tastiest food and drink products we can, and I’m looking forward to the next leg of our journey.”
Roger White, CEO of AG Barr, added: “I’m delighted that AG Barr is venturing into healthy oat-based products with such a great brand and an experienced team, led by Tom. Plant-based milk is a fast-growing category, in particular, and MOMA’s oat milk is a premium quality product with huge potential. This exciting investment is a positive indication of AG Barr’s growth ambitions.”
The deal is not expected to have a material impact on Barr’s profits for the current financial year ending 30 January 2022.
