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

By Dominique Patton

PARIS, June 22 (Reuters) - 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, 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)