Danone to tap protein demand in Asia by buying Australia's Made (updated)

Danone SA

22/06/2026 06:13

Updates with deputy CEO in paragraph 2, further context
Made generated more than €300 million in sales in 2026
Danone expects business to boost margin from year one
Company is benefiting from growing demand for high-protein foods
Danone shares down 0.46% at 0715 GMT
By Dominique Patton

    PARIS, June 22 (Reuters) - French food giant Danone DANO.PA said on Monday 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 ($344 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 U.S.-based Kate Farms last year.
Danone shares were down 0.46% 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 U.S. where Danone has struggled to meet demand.
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% 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.
($1 = 0.8730 euros)  

(Reporting by Abu Sultan in Bengaluru and Dominique Patton in Paris; Editing by Mrigank Dhaniwala, Sherry Jacob-Phillips and Alexander Smith)
((Abu.Sultan@thomsonreuters.com;))