Forbidden Foods says its $3.42 million acquisition of Oat Milk Goodness in September has delivered immediate results, with the health and wellness food company recording a 44 per cent increase in sales in October, as well as cost savings and a stronger outlook.
Group sales in October were $360,000, 44 per cent higher than September and up 70 per cent on the prior comparative period (pcp).
With Oat Milk Goodness (OMG) products listed on Forbidden Foods’ Blue Dinosaur website, online sales increased 93 per cent on a moving annual total basis to $810,000. This was built on momentum in the September quarter, which saw cash receipts from ecommerce rise 123 per cent pcp.
Forbidden Foods CEO, Alex Aleksic, said, “The group’s operational momentum in October highlights the synergies that have already been achieved by the merged entity following our strategic acquisition of Oat Milk Goodness.
“Looking ahead, the Company has a targeted strategy to convert its momentum into a step-change in sales and profits, highlighted in the near-term by strategic marketing campaigns in the Australian summer period which will complement the upward trajectory in our key sales and distribution metrics.”
