Countertop plant milk machine maker Mylky has been snapped up for £12m by free-from specialist Tooru.
Mylky’s machines allow consumers to make their own plant milk, from conventional ingredients such as oat, rice, or almond – or more exotic items like chestnuts, beets or hemp seeds.
Tooru bought 100% of Mylky’s shares for £6m in cash and £6m of debt and Tooru equity, as the first major step in the AIM-listed company’s buy-and-build strategy.
Shares issued by Tooru for the transaction – anticipated to represent around 10% to 15% of the enlarged group – implied a value of £17m for Tooru.
Since its launch in 2024, Mylky has gained over 70,000 customers in Europe, predominantly in Germany, France and Switzerland. It expected revenues of €7.5m (£6.5m) in the 2025 calendar year, with an EBITDA of €2.5m.
Mylky is trading ahead of budget for the first three months of 2026, which represented a significant uplift on the prior year, Tooru said. Sales at the business are forecast to hit €9m in the 12 months to 31 March 2026, with EBITDA of €3.1m.
Tooru added the business had significant room for growth in the UK market, through the sale of its 60-second plant milk machines and the potential for ongoing ingredients subscriptions for users.
The acquisition will complement Tooru’s existing free-from brands, including gluten-free bread brands Juvela and Oaf, and plant-based protein brand Pulsin.
“We see many interesting ideas and innovation potential for home based ‘free-from’ food and drink production, and subscription/regime type offerings,” said Tooru CEO Scott Livingston.
He added Mylky would enhance and scale Tooru’s offering.
“The team at Mylky are exceptional and we all look forward to working together. We believe this is very much the first step in the implementation of our stated buy and build strategy.”
Mylky CEO Martin Sundberg will join Tooru’s senior management, along with the rest of Mylky’s leadership.
“We’re proud of what the Mylky team has built over the past two years,” Sundberg said.
“From day one, our focus has been on building a high-quality brand that empowers consumers to make more conscious food choices. We believe Tooru is an excellent strategic fit for Mylky’s next phase of development, sharing our long-term approach to brand building and bringing complementary capabilities to support continued growth. We’re excited about the opportunities ahead and the next chapter.”
No comments yet