Fredericks Michael & Co. acted as a co-financial advisor to Valio Ltd, a leading Finland-based dairy cooperative, on a capital raise for its subsidiary Oddlygood Global Ltd., a fast-growing European plant-based dairy company. In this first round of financing, Oddlygood raised EUR 25 million from Mandatum Asset Management, a Finland-based private equity firm focused on investing in Nordic growth companies.
“Interest in plant-based products is growing exponentially worldwide, which we also see in a significant increase in our sales. However, consumers will only change their day-to-day consumption habits if they find dairy alternatives that both taste good and fit their lifestyle. Together with Mandatum, we will take the next step in our growth plan across our current markets as well as in new ones. We can use the financing to accelerate the implementation of our growth strategy and to deepen our business development expertise,” says Oddlygood’s CEO Niko Vuorenmaa.
“Valio’s strategy is geared towards strong growth through plant-based products. Having a good partner for Oddlygood will help us develop the business faster and more efficiently, to achieve our ambitious targets for international growth. Oddlygood’s success will also help Valio to develop interesting and innovative commercial ventures”, says Valio Executive Vice President, Growth Businesses and R&D Tuomas Salusjärvi.
“Oddlygood has developed an excellent platform of delicious plant-based products. With the investment, Oddlygood will be able to accelerate the implementation of its growth strategy by developing its means of production, expanding its marketing efforts and hiring new professionals with global growth in mind. We will also be joining the company’s Board of Directors and working actively with Oddlygood’s management team. We are thrilled to be involved in making the company an even bigger international success story than it is today”, says Alexander Antas, Head of Private Equity at Mandatum Asset Management.
About Oddlygood Global Ltd.
Oddlygood Global Ltd. develops and markets plant-based products under the Oddlygood™ brand, including oat drinks for coffee and products used in cooking and baking. Oddlygood’s diverse product portfolio and ability to develop new products are based on its origins as a part of Valio, one of Finland’s premier food companies with more than a century of product development experience. Valio spun off the Oddlygood business in the spring of 2021 and will continue as the company’s majority shareholder. For more information, visit www.oddlygood.net