Global food giant Danone has expanded its presence in Australia with the acquisition of Cocobella and Rokeby parent, Made Group.
The deal is part of a dual-acquisition to further Danone’s presence in the Asia Pacific region, with the company also announcing the purchase of the remaining 49 per cent stake in its existing fresh dairy joint venture with Saputo Dairy Australia.
Danone said that Made Group has consistently delivered “attractive margins”, citing its $490.7 million in sales for the previous fiscal year. Alongside its flagship brands, Made also owns The Collective, Nutrient Water, and Impressed.
“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,” said Antoine de Saint-Affrique, CEO of Danone SA.
“We share the same belief in health through food and are excited to welcome them into the Danone family.”
US-based TPG Capital was Made Group’s seller, a deal that saw TPG earn nearly $2 billion just five years after it acquired the drinks business.
“Today marks an exciting next chapter for Made,” Amanda Butler, CEO of Made, added. “Danone shares our commitment to health and a passion for innovation, and we are excited about what comes next. Together, we will access new infrastructure, capabilities, and [research and development] expertise to accelerate our growth across the region.”
