French food giant Danone 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 Group, 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.