Tooru to Acquire Plant-Based Milk Machine Startup Mylky for $16.2M

UK wellness-focused investor Tooru has agreed to purchase Mylky, a Belgian company selling at-home plant-based milk machines, for £12M ($16.2M).

On the back of “phenomenal growth” for its plant-based milk machines, Belgian e-commerce startup Mylky has entered an agreement to be acquired by British investment firm Tooru.

The deal will see 100% of the business be purchased by the wellness-focused investor for £12M ($16.2M). Half of this amount will be sourced from existing cash resources and new debt, complemented by a £3M ($4M) loan note and £3M in newly issued Tooru shares valued at £17M ($23M).

Tooru has been granted a three-month exclusivity period to complete the transaction, which is expected to be financed principally through debt and associated funding. It aims to use an institutional debt provider and has already had positive preliminary discussions with a number of lenders.

“We’re proud of what the Mylky team has built over the past two years. From day one, our focus has been on building a high-quality brand that empowers consumers to make more conscious food choices,” said Mylky CEO Martin Saunders, who established the startup with co-founder Isabella in early 2024.

“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.”

Mylky solves the cost, ingredient and waste issues of plant-based milk

Mylky’s at-home machine enables users to make a range of plant-based milks at home – from oat and almond to cashew and coconut – with a maximum output of 750ml to 1.6 litres, depending on the jug size.

The process involves adding ingredients to a filter basket and pressing a button to blend them with water. It only takes 60 seconds, and doesn’t need to be filtered separately.

Such machines allow consumers to customise their milk alternatives by adding different sweeteners, fruits, spices and other ingredients to add flavour. They can also make smaller portions to help reduce waste, or more concentrated forms of milk for different culinary applications.

More than that, making plant-based milk at home is much cheaper than a store-bought version. Mylky estimates its oat milk can be produced for just 40 cents, well below the prices of branded alternatives found on supermarket aisles. Moreover, it reduces waste by eliminating packaging and its associated climate footprint.

Additionally, this approach gives people more control over the ingredients used in their milk alternatives, a crucial factor at a time when concerns around ultra-processed foods (UPFs) are top of mind. In the UK, for instance, infrequent users of these products cite clear on-pack health details and confidence that they contain natural ingredients as two of the biggest factors that would increase their intake.

Mylky’s appeal is evident in its financial performance. Its management estimates the startup generated revenue of €7.5M ($8.8M) in 2025, with higher margins and cash generation contributing to an EBITDA of €2.5M ($2.9M).

Trading for the first quarter of 2026 is already ahead of budget, representing a “significant uplift” on the previous year – figures for the last 12 months show revenues are set to hit €9M ($10.6M) and EBIDTA €3.1M ($3.5M).

Tooru teases new markets and co-branded products for Mylky

Mylky has a large active customer list of over 70,000 Europeans across eight countries, led by Germany, France and Switzerland. According to Tooru, this demonstrates “strong brand loyalty” and lays the groundwork for repeat purchases and future product launches.

The investor further believes there’s a clear opportunity for the business to grow significantly in both existing and new markets, including the UK, driven in part by the rise in consumers switching from cow’s milk to plant-based alternatives. In that vein, rollouts in several new markets have already been planned for the short term.

Tooru already owns gluten-free brands Juvela and Oaf and vegan snacking labels Pulsin and Purely, and it says Mylky would be a complementary addition to its portfolio. It has identified several co-branding opportunities between the latter and its existing brands, including providing Mylky ingredients on a subscription basis.

“We are very excited about the opportunity to grow Mylky and to build it alongside Pulsin, Juvela and OAF. 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.

“The acquisition of this profitable business would both enhance and add scale to the Tooru group, [which] will help its public journey in the short term and create value for our shareholders. The team at Mylky are exceptional and we all look forward to working together going forward. We believe that this is very much the first step in the implementation of our stated buy and build strategy.”

Following the acquisition, Mylky’s team is expected to join Tooru’s senior management. It is one of several companies selling at-home plant-based milk makers, including Almond Cow, ChefWave, Nutr, Tribest and NutraMilk.

The deal is reflective of the overall consolidation-heavy landscape in the alternative protein sector. Over the last 18 months, more than 70 companies in this sector have been acquired, merged, fallen into liquidation, or ceased operations. In the UK, acquired startups include Deliciously Ella, The Pack, Might Drinks, Happiness in Plants, and Julienne Bruno, among others.