Forbidden Foods' sales surge post-acquisition

Forbidden Foods (ASX:FFF) has announced a remarkable increase in sales following the acquisition of Oat Milk Goodness (OMG). In October 2024, the company reported sales of $360,000, marking a 44% rise from the previous month and a 70% increase compared to the same period last year. This growth highlights the potential and immediate benefits of the acquisition.

Forbidden Foods' strategic acquisition and growth outlook

Forbidden Foods Limited's acquisition of Oat Milk Goodness has proven to be a significant catalyst for growth, with a 44% increase in monthly sales for October 2024. The integration of OMG's products has boosted online sales, which saw a 93% rise on a Moving Annual Total basis, and cash receipts from e-commerce increased by 123% year-over-year. The company is focused on further enhancing sales through strategic marketing campaigns, such as their collaboration with the McGrath Foundation. Operational efficiencies and cost-saving initiatives are expected to improve margins in the medium term. Forbidden Foods aims to leverage its expanded product offerings and strategic initiatives to sustain growth and boost profitability.

Executive insights on sales growth and strategy

We are thrilled with the immediate impact of our strategic acquisition of OMG, which has driven significant increases in our sales figures. The integration of OMG products into our existing platforms has been seamless and is already yielding positive results. Our focus on operational efficiencies and strategic marketing campaigns positions us well for continued growth. The partnership with the McGrath Foundation further aligns our brand with meaningful causes and is expected to enhance our market presence. We are excited about the future and confident in our ability to maintain this upward trajectory,' said Alex Aleksic, CEO of Forbidden Foods.