French dairy giant Danone said Monday that it would buy the Australian-based food and drink group Made as demand for high-protein and probiotic health offerings soars.
Financial details were not disclosed but AFP reported, citing a source close to the deal, that Danone would pay around €1 billion (£860 million).
Made had sales of more than €300m in its fiscal year to June 2026, Danone said, adding that the acquisition would increase its operating margins from the first year.
It said Made "combines a proven track record in innovation with best-in-class marketing capabilities" for brands that include Cocobella coconut water and yogurts, Rokeby protein smoothies and NutrientWater that it bills as the "Chuck Norris of nutrients" in a nod to the action movie star.
The Melbourne-based company has a significant presence in its home country of Australia as well as across New Zealand and Southeast Asia.
Danone also said it would buy the 49 percent stake in a joint venture with Saputo Dairy Australia that it doesn't own for an undisclosed amount.
"This is another example of our Renew strategy at work: combining a strong focus on organic growth with targeted investments that further enhance our ability to meet demand for healthy nutrition," Danone's chief executive Antoine de Saint-Affrique said in a statement.
The latest deal follows Danone’s acquisition of Huel, a leading player in complete, nutritionally balanced meal solutions, in March for about £870m.