UK-based milkshake maker Shaken Udder has been acquired by the Spanish food company Idilia for an undisclosed amount.
Idilia’s acquisition marks an exit for private equity backer Lloyds Development Capital (LDC), which took a minority stake in Shaken Udder in 2021.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
Founders Jodie and Andy Howie will depart the business following the deal, with Idilia acquiring their remaining shares.
Shaken Udder hopes the deal will help it reach new consumers and channels as well as “accelerate” innovation of its products, a joint statement said.
As part of the deal, Rob Reames, previously managing director of Shaken Udder, has become CEO.
Founded in 2004 by husband-and-wife duo Jodie and Andy Howie, Shaken Udder, is best known for its milkshakes which are marketed as being free from artificial colours, flavours and sweeteners.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataIts products are stocked at Sainsbury’s, Tesco, Asda and in convenience stores.
Commenting on the news, Shaken Udder’s new CEO, Rob Reames, said: “From the first meeting, it was clear that Idilia and Shaken Udder shared the same vision – like us, they are a family-owned business with a purpose to provide meaningful moments of pleasure.
“This commitment will not change, nor the team behind it: with Idilia’s support, we hope to accelerate Shaken Udder’s growth whilst shaking up the dairy category.”
As part of the transaction, David Garman will also step down as chair, while Idilia CEO Xavi Pons will join the milkshake maker’s board.
The company said it will retain its entire team following the transaction.
Idilia CEO Xavi Pons said: “Shaken Udder is a perfect fit with Idilia’s strategic approach and helps us take our corporate purpose even further: to create those small yet meaningful moments of pleasure and positive emotions that contribute to people’s emotional well-being.
“We are very pleased to welcome Shaken Udder into the Idilia ecosystem and look forward to helping it grow and add real value to the milkshake segment.”
Shaken Udder is is currently worth £45m ($59.2m) in retail sales value, the joint statement said, while its revenue over the past four years has soared 91%, with a 23.5% CAGR, and it has added on 14,500 new distribution points.
In June 2024, Idilia agreed to buy 50% of Spanish milkshake brand Cacaolat from brewer Damm in a joint-management deal.
Idilia’s portfolio also includes the ColaCao and Paladin drinking chocolate brands, as well as Okey milkshakes. It also owns the chocolate spread brand Nocilla.
