Danone today (22 June) announced two transactions the company said will expand its presence in Asia-Pacific’s “fast-growing, healthy nutrition space”.
The French dairy giant has agreed to buy Australia-based drinks business Made Group.
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Danone is also set to take full control of its fresh dairy joint venture in the region with Canadian dairy peer Saputo.
The Activia maker did not disclose the financial terms of the deals.
Made Group, founded in 2005, sells products including high-protein ready-to-drink products and yogurts. Its brands include Cocobella coconut water and Rokeby protein smoothies.
The company, majority owned since 2021 by private-equity firm TPG Capital, sells across Australia and has a presence in New Zealand and Southeast Asia.
Separately, Danone will acquire the 49% stake it did not own in its Australian fresh dairy joint venture with Saputo, taking full control of the business.
The JV, which markets brands including Activia and YoPro, helped Danone to build a “solid presence” in functional yogurts in Australia, the French group said.
Danone CEO Antoine de Saint-Affrique said: “With its strong portfolio of brands and healthy nutritional products, focusing on gut health and protein, Made shows an impressive track record of rapid and profitable growth
He added: “To further enhance our operational flexibility, we are also acquiring the remaining stake in our Australian fresh dairy joint venture.”
The two deals are expected to be completed in the second half of 2026, subject to customary closing conditions, including regulatory approvals.
Made Group is expected to deliver sales of more than €300m ($344m) for the fiscal year ending June 2026, Danone said.
The group added the deal is expected to be “accretive” to its operating margin and earnings per share from the first year of ownership.
In March, Danone snapped up UK meal-replacement business Huel. Financial terms were not disclosed. The Financial Times put the purchase price at about €1bn (then $1.15bn). Just Food has approached Danone for comment.
Last month, de Saint-Affrique dismissed the idea of Danone buying the Mead Johnson infant-formula business in the US owned by Reckitt Benckiser.
