Danone to tap protein demand in Asia by buying Australia’s Made

[PARIS] French food giant Danone said on Monday (Jun 22) it will acquire Australia’s Made Group, expanding into high-protein foods in the Asia-Pacific region in a global race to tap surging demand from users of weight-loss drugs.

Made, which produces Cocobella coconut water and yoghurt as well as Rokeby protein smoothies, had sales of more than 300 million euros (S$445 million) in the year to June 2026 and is seeing “very, very strong double-digit growth”, Danone’s deputy CEO Juergen Esser told Reuters.

“High-protein yoghurts are flying off the shelf in Australia and New Zealand,” he said, citing markets where Danone has little presence in these products.

Made is also expanding in South-east Asia, where it is an early mover in protein products. The deal, for an undisclosed amount, is the latest bolt-on acquisition for Danone, which is looking to tap a surge in interest in healthier eating.

Danone announced the purchase of nutritional meals maker Huel in March and the acquisition of US-based Kate Farms last year.

Danone shares were down 0.46 per cent at 0715 GMT. Demand for protein has soared, driven by users of weight-loss drugs seeking to prevent muscle loss, but competition is also rising, particularly in the US where Danone has struggled to meet demand.

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Danone said the Made business will be a “meaningful contributor” to its essential dairy and plant-based (EDP) division in Asia-Pacific, boosting its operating margin and earnings per share from the first year.

It also said it would purchase the remaining 49 per cent stake in its fresh dairy joint venture with Saputo Dairy Australia, allowing for more flexibility between the two businesses.

Both deals are expected to close in the second half. REUTERS