Danone to buy Australia's MADE Group in Asia-Pacific protein push

Danone is deepening its Asia-Pacific push with a pair of deals that hand the French group a bigger stake in premium nutrition just as demand for high-protein foods keeps climbing. The company said it has entered into definitive agreements to acquire Australia’s MADE Group and to buy the remaining 49% of its fresh dairy joint venture with Saputo Dairy Australia, with both transactions expected to close in the second half of 2026.

Danone did not disclose financial terms, but MADE matters because it brings scale and momentum in categories that are growing faster than traditional dairy. The group said MADE generated more than €300 million in sales in the year to June 2026, and Danone deputy chief executive Juergen Esser described the business as growing at “very, very strong double-digit growth.” He also said high-protein yoghurts are “flying off the shelf” in Australia and New Zealand, markets where Danone has limited presence in that segment.

The acquisition gives Danone access to brands built around that shift in consumer spending. MADE was founded in 2005, Cocobella launched in 2010 and is described by the company as Australia’s number one coconut water and plant-based yoghurt brand, and Rokeby launched in 2013. The portfolio also includes The Collective, Impressed and NutrientWater, all aimed at health-conscious shoppers seeking ready-to-drink protein, gut-health yoghurt and coconut-based products. Danone said the MADE business should be a meaningful contributor to its essential dairy and plant-based division in Asia-Pacific and should lift operating margins and earnings per share from the first year.

The second deal matters just as much strategically. Danone’s joint venture with Saputo Dairy Australia has been a foothold in Australian functional yoghurt through YoPRO, Activia and Ultimate, with production at Kiewa in north-east Victoria. Full ownership will give Danone more flexibility in a market where the Australian Competition and Consumer Commission has noted the venture also supplies Aldi private labels Premiere and Yoguri.

The moves fit Danone’s wider pattern of bolt-on acquisitions aimed at health and wellness rather than legacy dairy alone. It bought nutritional meals maker Huel in March and U.S.-based Kate Farms last year, while continuing to promote its Renew strategy around health and nutrition growth. Danone says it has more than 90,000 employees, sells in over 120 markets and generated €27.4 billion in sales in 2024, numbers that underscore how the group is using scale to buy into premium growth before the aisle gets more crowded.