Pizza Oven Maker Ooni Bakes Plans to Profit from Pandemic Sales Boom

Pizza Oven Maker Ooni Bakes Plans to Profit from Pandemic Sales Boom

A husband-and-wife team who started a high-end outdoor pizza oven business nearly a decade ago are considering selling a stake in the business as part of a deal that could propel them into the ranks of the richest people in Britain.

Sky News has learned that Scotland-based Ooni is in talks to hire investment banks to advise them on the sale of a minority stake in the company.

A City source suggested the company would likely seek a valuation of several hundred million pounds as part of this process.

Ooni, who was previously known as Uuni, has been a big winner in the COVID-19 pandemic, with consumers turning to high-end products for cooking and entertainment at home.

The company has reportedly seen sales around fivefold in the last financial year, from around £ 13million to £ 55million.

Sources said private equity firms with a track record of investing in consumer goods brands would be among potential bidders for a stake.

Ooni was founded by Kristian Tapaninaho and Darina Garland, a married couple who ran an education business at the time but were frustrated that they couldn’t reproduce restaurant-quality pizzas in their home oven.

They created the company in 2012 and have since established a presence for the company in the United States and continental Europe.

Their pizza ovens start at £ 249 and the company offers a 60-day buy-back option if customers are not happy with the product.

Ooni declined to comment.


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