Danone Completes Acquisition of MADE, Which Has Sales of More Than €300 Million
Key Facts
Danone said it completed its acquisition of Australian group MADE in a statement issued from Paris on November 12, 2026, turning an agreement announced in June into an expansion in Asia-Pacific markets. The French group said MADE generated sales of more than €300 million in its financial year ended June 2026, with double-digit growth and margins it described as attractive. It added that the company would make a significant contribution to its core dairy and plant-based businesses in the region. The completion brings MADE’s brands and products within Danone’s portfolio in Australia, New Zealand and Southeast Asia. The deal is based on businesses in healthy nutrition categories that Danone described as fast-growing in Asia-Pacific.
MADE’s portfolio includes high-protein ready-to-drink beverages, yogurt products associated with gut health, and coconut-based products, according to Danone’s statement. The company also operates in functional beverages, dairy and plant-based products, giving it reach across more than one category in the healthy-food market. Danone said MADE has a significant presence in Australia, New Zealand and Southeast Asia, along with a track record in innovation and strong marketing capabilities. It said the company was founded in 2005 and has since grown into a global business with a portfolio spanning functional beverages, dairy and plant-based products. The deal thus combines MADE’s regional product base with Danone’s dairy and plant-based businesses in Asia-Pacific.
Danone Chief Executive Antoine de Saint-Affrique said the group wants to combine MADE’s entrepreneurial culture, marketing expertise and route to market with Danone’s scale and scientific and category expertise. He added: "We look forward to unlocking new opportunities and reaching more consumers across Asia-Pacific." The statement reflects the company’s focus on linking MADE’s marketing and distribution capabilities with the group’s resources and expertise in food categories. MADE Chief Executive Amanda Butler said the companies are working to build a stronger growth platform in the region’s active health and wellness categories. She added: "We’re building a stronger platform for growth in some of the most vibrant health and wellness categories in Asia-Pacific."
Danone announced two agreements on June 22, 2026, to expand its presence in Asia-Pacific: the acquisition of MADE and the purchase of the remaining 49% stake in its fresh dairy joint venture with Saputo Dairy Australia. When the agreements were signed, the group said completion of both deals was expected in the second half of 2026, subject to customary conditions, including regulatory approvals. It also said at the time that the MADE deal would add to operating margin and earnings per share from the first year; that was an estimate disclosed when the agreement was signed. The completion comes amid Danone’s regional expansion, with sales of €27,283 million in 2025, up 4.5% on a like-for-like basis. Recurring operating margin rose to 13.4% that year, an increase of 44 basis points.
In its 2025 results, Danone said sales in China, North Asia and Oceania rose 11.7% on a like-for-like basis, driven by volume and mix growth of 12.4%. Those figures provide context on the performance of the region that includes Oceania, while MADE expands the group’s presence in Australia, New Zealand and Southeast Asia. DANOY shares closed at $15.17 on November 11, 2026, the latest close listed in EL7 data before the acquisition completion was announced the following day. In its 2026 guidance, Danone maintained its forecast for like-for-like sales growth of between 3% and 5%, with recurring operating income growing faster than sales. The completion statement does not set a new date for measuring the deal’s financial impact.