Danone has signed a definitive agreement to acquire Melbourne-based MADE Group, an Australian food and beverage business whose portfolio includes plant-based coconut water and coconut yoghurt brand Cocobella.
The transaction is subject to customary closing conditions and regulatory approvals, with completion expected in the second half of 2026. Financial terms have not been disclosed. According to Danone, the deal will be accretive to its operating margin and earnings per share from year one.
“Together we will access new infrastructure, capabilities and R&D expertise”
MADE Group CEO Amanda Butler said the agreement would give the company access to broader resources to support its regional expansion: “Danone shares our commitment to health and a passion for innovation, and we are excited about what comes next. Together we will access new infrastructure, capabilities and R&D expertise to accelerate our growth across the region.”
Founded in 2005, MADE Group operates a portfolio of food and beverage brands distributed across Australia, New Zealand, and Southeast Asia. The company reported sales of more than €300 million for the fiscal year ending June 2026 and has recorded consistent double-digit growth, according to Danone.
Cocobella, launched in 2010, is positioned as Australia’s leading coconut water brand and produces a range of dairy-free coconut yoghurts fermented with live cultures and probiotics. The brand sources its coconuts from plantations in Thailand and Indonesia and has expanded distribution into Southeast Asian markets.
Renew strategy
Danone CEO Antoine de Saint-Affrique described the agreement as a continuation of the company’s “Renew” strategy, which combines organic growth with targeted acquisitions in the healthy nutrition space.
“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. We share the same belief in health through food and are excited to welcome them into the Danone family,” he stated.
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