British soft drink maker AG Barr has entered into an agreement to acquire a 60% majority stake in plant-based milk manufacturer Moma Foods and plans to take full ownership of the company over the next three years.
Founded in 2006, Moma is a manufacturer of dairy-free oat milk, bircher muesli, porridge, and low-sugar granola.
Tom Mercer, founder, and chief executive at MOMA Foods, said: “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.”
“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,” said Roger White, chief executive at AG Barr.