Culinary Company Acquires Major Asian Food Brand: Stock Skyrockets

DayDayCook Acquires Beloved Asian Food Brand, Omsom.

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Disclaimer: The following article is based on information available as of June 2024 and aims to provide a detailed overview of the acquisition of Omsom by DayDayCook. Any forward-looking statements are subject to risks and uncertainties.

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DDC Enterprise, Ltd., (NYSEAM: DDC) – commonly known as DayDayCook – has announced the acquisition of Omsom, an Asian food brand recognized for its vibrant flavors and strong cultural identity. The acquisition marks a huge step for DayDayCook, enhancing its portfolio and furthering its mission to bring authentic Asian flavors to a broader audience.

Photo by MealPro on Unsplash

The Acquisition Details

The acquisition involves a combination of cash and stock payments from DayDayCook, spread over four years. This decision is expected to facilitate rapid product innovation for Omsom, reducing the time from concept to market by half. The operational synergies resulting from this merger will streamline processes and improve financial metrics for both companies. By aligning their missions and visions, the merged entities are set to become a significant force in the Asian food industry. Norma Chu, the founder of DayDayCook, expressed her excitement about the acquisition:

“We are delighted to welcome Omsom to DayDayCook. Founders Vanessa and Kim are passionate about Asian cuisine and have created a bold brand that brings genuine flavors right into the homes of consumers. Our presence in the U.S. is rapidly growing with the addition of Omsom to our U.S. family of brands, joining Nona Lim and Yai’s Thai, which we acquired within the past year. Having three notable Asian food brands in our portfolio will create enhanced synergies and resource integration, and make our operations more efficient and profitable. We look forward to collaboration across the three brands and to ensuring even more Asian-inspired and developed products reach more U.S. kitchens in the future.”

Kim Pham, co-founder of Omsom, reflected on the company’s journey and the significance of the acquisition:

“Omsom has always stood for something much bigger than the two of us. When we launched the company in May 2020, it was with a mission of honoring and celebrating Asian Americana. In the last couple years, our rowdy branding, damn delicious flavors, and unapologetic perspective have illuminated the way – and now, those same values are showing us to our next chapter. They say, ‘If you want to go fast, go alone, but if you want to go far, go with others,’ and that’s what we’re excited to do with DayDayCook.”

Vanessa Pham, CEO and co-founder of Omsom, highlighted the alignment of values between the two companies:

“It all started with a LinkedIn message to Norma, when we first read about DayDayCook’s vision and mission, we knew we had to get in touch immediately. We are thrilled that Omsom, which has been built brick-by-brick with heart and intention, will continue to thrive in partnership with DayDayCook. Omsom has relentlessly centered the multitudes within Asian America – so it’s only fitting that we accelerate our next chapter with another Asian woman-founded and -led business.”

Background of DayDayCook and Omsom

Founded in 2012 by Norma Chu, DayDayCook began as an online platform offering recipes and culinary videos. Over time, it evolved into a leading multi-brand Asian consumer food company, with a broad range of products that celebrate Asian cooking culture. The company's mission is to share the joy of Asian cuisine with the world, and its expansion into the U.S. market has been marked by strategic acquisitions, including Nona Lim and Yai’s Thai. Omsom was founded in 2020 by first-generation Vietnamese-American sisters Vanessa and Kim Pham. The brand quickly gained a devoted following for its Cooking Sauces and Saucy Noodles, offering restaurant-quality Asian cuisine that can be easily prepared at home. Omsom's bold branding and commitment to celebrating Asian American culture have set it apart in the market.

Initially launched as a direct-to-consumer business, Omsom expanded into retail nationally within two years. By the end of Q1 2024, the company reported a 324% year-over-year increase in grocery channel revenue, underscoring its successful retail strategy. Omsom's products are now available in over 2000 stores nationwide, including major retailers like Whole Foods Market, Target, Sprouts, and The Fresh Market. The acquisition is set to create significant synergies between DayDayCook and Omsom. By integrating resources and expertise, the companies can streamline their operations, making them more efficient and financially robust. This alignment will also foster collaboration across their respective brands, enabling the development of innovative products that reflect the diverse and rich flavors of Asian cuisine.

One of the key benefits of the acquisition is the acceleration of new product development. By leveraging DayDayCook's extensive R&D capabilities, Omsom will be able to bring new products to market in half the time previously required. This speed to market is crucial in the competitive food industry, allowing Omsom to quickly respond to consumer trends and preferences.

With DayDayCook’s established presence in the U.S. and its recent acquisitions of Nona Lim and Yai’s Thai, the addition of Omsom strengthens its foothold in the market. The combined portfolio of brands offers a comprehensive range of Asian-inspired products, appealing to a wide audience. This expansion is not just about market share but also about enriching the culinary experiences of consumers by offering authentic and high-quality Asian food products.

Commitment to Culture and Quality

The acquisition of Omsom by DayDayCook represents a strategic move that promises growth and innovation. As both companies integrate their operations and resources, they are well-positioned to lead the Asian food market in the U.S. and beyond. Consumers can anticipate a wider variety of products that reflect the rich culinary traditions of Asia, brought to their kitchens with convenience and authenticity. Both DayDayCook and Omsom share a deep commitment to celebrating and preserving Asian culinary culture. This acquisition is more than a business transaction; it is a partnership rooted in shared values and a mutual passion for bringing the best of Asian cuisine to consumers. The collaboration between these two brands is expected to result in products that are not only delicious but also culturally meaningful.

Looking ahead, the combined efforts of DayDayCook and Omsom are likely to drive continued growth and innovation in the Asian food sector. With a focus on retail expansion and product development, the companies have set ambitious targets for the future. As Omsom continues to thrive under the umbrella of DayDayCook, consumers can look forward to exciting new offerings that enhance their culinary experiences.

The acquisition of Omsom by DayDayCook marks a significant milestone in the evolution of both companies. By joining forces, they are set to elevate the Asian food market with innovative products and a shared commitment to quality and cultural celebration. This partnership exemplifies how strategic collaborations can drive growth and create value for consumers.

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Disclaimer: The above information is based on public statements and press releases as of June 2024. Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those anticipated.

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