DayDayCook Acquires Omsom, a Beloved Asian Food Brand

NEW YORK, June 12, 2024 (GLOBE NEWSWIRE) — DDC Enterprise, Ltd., (NYSEAM: DDC) (“DayDayCook”, “DDC” or the “Company”), a leading Asian multi-brand food company consumer, today announced the acquisition of Omsom, the proud and loud Asian food brand that quickly attracted a devoted following for its cooking sauces, saucy noodles and bold cultural commentary.

The acquisition, which consists of a combination of cash and DDC shares paid over four years, is expected to accelerate new product innovation for Omsom, with R&D expected to take half the time from idea to product. Operational synergies between the two companies will also streamline processes and improve financial indicators. Additionally, both companies share a mission and vision and, with DDC’s expanding portfolio, are poised to become a leading force in the Asian food industry.

“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 authentic flavors directly to consumers. Our U.S. presence is growing rapidly with the addition of Omsom to our family of U.S. brands, joining Nona Lim and Yai’s Thai, which we acquired over 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 collaborating across all three brands and ensuring that in the future, even more Asian-developed and Asian-inspired products are available in more American kitchens,” said Norma Chu, founder of DDC.

“Omsom has always represented something much bigger than just the two of us. When we launched the company in May 2020, we had a mission to honor and celebrate Asian America. Over the past two years, our flashy branding, damn delicious flavors, and unapologetic perspective have lit the way – and now, those same values ​​are showing us 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,” said Kim Pham, co-founder of Omsom.

“It all started with a LinkedIn message to Norma. When we first heard about DayDayCook’s vision and mission, we knew we had to get in touch immediately. We are thrilled that Omsom, which was built brick by brick with heart and intention, will continue to thrive in partnership with DayDayCook. Omsom has continually centered the multitudes within Asian America – so it’s only fitting that we accelerate our next chapter with another Asian company founded and led by women,” said Vanessa Pham, CEO and co- founder of Omsom.

DayDayCook was founded in 2012 by Chu, who’s mission is to share the joy of Asian culinary culture with the world. Omsom was founded in 2020 by first-generation Vietnamese-American sisters Vanessa and Kim Pham with the goal of bringing restaurant-quality Asian cuisine to American kitchens.

Originally launched as a direct-to-consumer business, Omsom expanded into nationwide retail just two years later. By the end of the first quarter of 2024, the grocery network’s revenue had grown 324% year-over-year, reinforcing the team’s focus on retail expansion. The company’s two product lines – Cooking Sauces and Saucy Noodles – have reached 100,000 customers and more than 2,000 stores nationwide, including Whole Foods Market, Target, Sprouts and The Fresh Market. Omsom expects significant innovations and continued revenue and retail growth in 2024.

On June 4, 2024, the Compensation Committee of the Board of Directors of DDC granted grant options covering a total of 160,000 shares of DDC Class A common stock to five new non-executive employees who were previously employed by Omsom in the part of their employment offer with a wholly owned subsidiary of DDC. Each award was granted under the terms of DDC’s 2023 Stock Option Plan and vests over a four-year period, subject to continued service through each vesting date. Each award was made as a significant employment incentive pursuant to Rule 303A.08 of the NYSE Listed Company Handbook.

ABOUT DAYDAYCOOK

DayDayCook (NYSEAM: DDC) is on a mission to share the joy of Asian culinary culture with the world, providing a range of accessible and healthy ready-to-eat, ready-to-cook and ready-to-heat products that meet consumers’ needs. at the world palace. DayDayCook has evolved from an authority on culinary content to a multi-brand powerhouse, offering a wide range of products that champion authenticity, nutrition and convenience. The company’s growing portfolio includes DayDayCook, Nona Lim, Yai’s Thai, MengWei and Yujia Weng. Visit fr.daydaycook.com for more information, or follow the company on LinkedIn.

ABOUT OMSOM

Omsom was founded in 2020 by first-generation Vietnamese-American sisters Vanessa and Kim Pham with the goal of reclaiming Asian flavors that have been diluted for far too long. Omsom partners with iconic Asian chefs to create their cult product lines – Omsom Sauces and Saucy Noodles – bringing restaurant-quality Asian flavors to any home kitchen with ease. Its Saucy Noodles – premium instant noodles with flavorful, succulent sauces – deliver real Asian flavors in just four minutes. Omsom’s products, thought leadership, and partnerships have had significant cultural impact, including influencing Whole30’s stance on MSG. The company has also received numerous awards and recognition from CNN, Food & Wine, The Kitchn, Fast Company, NOSH, The New York Times, Vogue and The Wall Street Journal. For more information, visit www.omsom.com.

Forward-looking statements

Certain statements contained in this release are forward-looking statements, including, for example, statements about the completion of the acquisition, anticipated revenues, growth and expansion. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections regarding future events that the Company believes may affect its financial condition, results of operations, business strategy and his financial needs. These forward-looking statements are also based on assumptions regarding the Company’s current and future business strategies and the environment in which the Company will operate in the future. Investors can find many (but not all) of these statements using words such as “may”, “will”, “expect”, “anticipate”, “aim”, “estimate”, “a l “intends,” “plans,” “believes,” “likely to” or other similar expressions. The Company undertakes no obligation to publicly update or revise any forward-looking statements to reflect future events or developments. subsequent circumstances, or changes in its expectations, except as required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will prove to be correct, and the Company. cautions investors that actual results may differ materially from anticipated results and encourages investors to consider other factors that may affect its future results in the company’s registration statement and other documents filed with the SEC .

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