Danone Expands Asia-Pacific Footprint with Strategic Acquisitions

Danone, the French dairy giant, has unveiled plans for two significant transactions aimed at strengthening its position in the Asia-Pacific's burgeoning healthy nutrition market. The company announced on June 22 that it will acquire Australia-based drinks business Made Group and assume full ownership of its fresh dairy joint venture with Canadian company Saputo.

Founded in 2005, Made Group is known for its high-protein ready-to-drink offerings and yogurt products, with brands such as Cocobella coconut water and Rokeby protein smoothies. The firm is primarily owned by private-equity firm TPG Capital since 2021 and operates across Australia, New Zealand, and Southeast Asia.

In a separate transaction, Danone will purchase the remaining 49% stake it does not yet own in its Australian fresh dairy joint venture with Saputo. The joint venture has been instrumental in establishing Danone's presence in the functional yogurt sector in Australia, with brands like Activia and YoPro.

Antoine de Saint-Affrique, CEO of Danone, remarked on the acquisitions, citing the strong brand portfolio and the rapid, profitable growth of Made Group. He also noted the strategic importance of acquiring full control over the joint venture to increase operational flexibility.

The financial terms of the deals have not been disclosed. However, Danone expects Made Group to generate sales exceeding €300 million ($344 million) for the fiscal year ending June 2026. Additionally, the acquisition is anticipated to positively affect Danone's operating margin and earnings from the first year of ownership.

The completion of both transactions is projected for the second half of 2026, pending customary closing conditions and regulatory approvals. This move follows Danone's previous acquisition of the UK meal-replacement business Huel in March.