The corporate team at Knights plc’s Leicester office has advised on a £500,000 investment in a healthy breakfast business.
The Pocklington’s Walk team helped private equity investment firm Foresight Group buy the stake in Oomf Limited, which makes oat protein pots and snack bars.
The deal was supported by the Midlands Engine Investment Fund (MEIF).
Oomf supplies several major multiples and retail outlet and is in talks with others, and the investment will be used to scale up its manufacturing, sales and marketing.
A spokeswoman for Knights, a national law firm listed on the Stock Exchange, said: “Oomf is a premium high-protein porridge brand operating in the fast-moving and high-growth on-the-go breakfast cereals sub-sector.
“Launched by two brothers, Robert and Andrew Sweeney, it has two core product ranges – Protein Oats and Skinny Oats – which are currently sold online and in several major retail outlets including Sainsbury’s and Tesco.
“Originally based in Dorset, Oomf has opened a new manufacturing site in Northampton, creating several new jobs.”
Leicester Business News
Oomf co-founder Andrew Sweeney said: “These are exciting times and we are delighted to have Foresight’s backing through MEIF.
Most Read
“With its investment, we can upscale the business in our new East Midlands manufacturing base which is an ideal location for further expansion of the business into new retailers based across the 海角视频.”
Jordan Lavender, leading the investment for Foresight, said: “We are delighted to be working with Oomf and in doing so bringing a vibrant early stage company to the East Midlands.
“As a result of the investment, the company has been able to create more jobs for the area whilst taking advantage of a central base in the region to facilitate more cost-effective distribution.
“In addition, we are pleased to be supporting a company that is passionately promoting a healthier lifestyle”.
The Knights team was led by associate Matt Bolton, supported by partner Martin Smith.
Matt said: “We have enjoyed working with Foresight on this MEIF investment.
“Oomf has a solid base and fantastic potential and we wish the team the very best on the exciting journey ahead.
Don’t miss
“A number of local jobs have also been created which is great news for the region.”
The Midlands Engine Investment Fund project is supported financially by the European Union using funding from the European Regional Development Fund (ERDF).
Oomf was advised by Mark Nixon at Trethowans LLP.
Accountancy and business advisory firm Smith Cooper advised Foresight on its financial due diligence.