French food and beverage company, Danone, has signed two agreements to buy health food business, MADE Group, and take full control of its Australian fresh dairy joint venture with Saputo, expanding its footprint in the Asia Pacific healthy nutrition market.
MADE Group recorded sales of around $490 million in FY26 and Danone said its acquisition would be add value to its operating margin and earnings per share from the outset through Danone’s Essential Dairy and Plant-Based (EDP) business in the region.
Founded in 2005, MADE has built a portfolio spanning high-protein ready-to-drink products, gut-health yoghurts and coconut-based products, with a presence across Australia, New Zealand and South-East Asia. The company has consistently delivered double-digit growth and what Danone described as attractive margins.
In a complementary deal, Danone will also acquire the remaining 49 per cent stake in its fresh dairy joint venture with Saputo Dairy Australia. The partnership has given Danone a presence in functional yoghurts in Australia through three brands: YoPRO, Activia and Ultimate.
Danone SA CEO, Antoine de Saint-Affrique, said the deals marked another step in the company’s Renew strategy.
“With its strong portfolio of brands and healthy nutritional products, focusing on gut health and protein, MADE shows an impressive track record of rapid and profitable growth,” he said.
MADE Group CEO, Amanda Butler, said the acquisition opened a new chapter for the business.
“Led by our mantra of ‘making healthy happy’, we are proud to have built a portfolio of trusted brands and innovative products that consistently deliver better on nutrition, taste and quality.
“Together we will access new infrastructure, capabilities and R&D expertise to accelerate our growth across the region,” Butler said.
The transactions continue Danone’s run of targeted acquisitions under the Renew strategy, following the purchase of UK-founded Huel earlier this year and the 2025 acquisitions of Belgian biotic specialist Akkermansia company and US specialised nutrition business Kate Farms.
Both deals are subject to customary closing conditions, including regulatory approvals, and are expected to complete in the second half of 2026.
