Oddlygood, the Nordic plant-based food and drinks business owned by Finnish dairy firm Valio, has snapped up UK rival Rude Health.
Financial terms of the deal were not disclosed.
Oddlygood said the move would increase its market share in the UK plant-based drinks category.
The business noted that the UK was “a key territory for the company”, with the purchase of Rude Health enabling it to “further diversify the business beyond the Nordics and drive both UK and European growth”.
Oddlygood CEO Niko Vuorenmaa said: “Our ambition is to become one of the leading plant-based companies in the UK and Europe and this acquisition will help accelerate this, but key to its success is the strong alignment between Rude Health and Oddlygood.
“Rude Health is one of the biggest success stories in British plant-based food. It’s nothing less than impressive the way the team has grown its product range alongside such a distinctive and well-thought-of brand to deliver commercial success.
Access the most comprehensive Company Profiles
on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
View profiles in store
Company Profile – free
sample
Your download email will arrive shortly
We are confident about the
unique
quality of our Company Profiles. However, we want you to make the most
beneficial
decision for your business, so we offer a free sample that you can download by
submitting the below form
By GlobalData
Country *
UK
USA
Afghanistan
Åland Islands
Albania
Algeria
American Samoa
Andorra
Angola
Anguilla
Antarctica
Antigua and Barbuda
Argentina
Armenia
Aruba
Australia
Austria
Azerbaijan
Bahamas
Bahrain
Bangladesh
Barbados
Belarus
Belgium
Belize
Benin
Bermuda
Bhutan
Bolivia
Bonaire, Sint
Eustatius
and
Saba
Bosnia and Herzegovina
Botswana
Bouvet Island
Brazil
British Indian Ocean
Territory
Brunei Darussalam
Bulgaria
Burkina Faso
Burundi
Cambodia
Cameroon
Canada
Cape Verde
Cayman Islands
Central African Republic
Chad
Chile
China
Christmas Island
Cocos Islands
Colombia
Comoros
Congo
Democratic Republic
of
the Congo
Cook Islands
Costa Rica
Côte d”Ivoire
Croatia
Cuba
Curaçao
Cyprus
Czech Republic
Denmark
Djibouti
Dominica
Dominican Republic
Ecuador
Egypt
El Salvador
Equatorial Guinea
Eritrea
Estonia
Ethiopia
Falkland Islands
Faroe Islands
Fiji
Finland
France
French Guiana
French Polynesia
French Southern
Territories
Gabon
Gambia
Georgia
Germany
Ghana
Gibraltar
Greece
Greenland
Grenada
Guadeloupe
Guam
Guatemala
Guernsey
Guinea
Guinea-Bissau
Guyana
Haiti
Heard Island and
McDonald
Islands
Holy See
Honduras
Hong Kong
Hungary
Iceland
India
Indonesia
Iran
Iraq
Ireland
Isle of Man
Israel
Italy
Jamaica
Japan
Jersey
Jordan
Kazakhstan
Kenya
Kiribati
North Korea
South Korea
Kuwait
Kyrgyzstan
Lao
Latvia
Lebanon
Lesotho
Liberia
Libyan Arab Jamahiriya
Liechtenstein
Lithuania
Luxembourg
Macao
Macedonia,
The
Former
Yugoslav Republic of
Madagascar
Malawi
Malaysia
Maldives
Mali
Malta
Marshall Islands
Martinique
Mauritania
Mauritius
Mayotte
Mexico
Micronesia
Moldova
Monaco
Mongolia
Montenegro
Montserrat
Morocco
Mozambique
Myanmar
Namibia
Nauru
Nepal
Netherlands
New Caledonia
New Zealand
Nicaragua
Niger
Nigeria
Niue
Norfolk Island
Northern Mariana Islands
Norway
Oman
Pakistan
Palau
Palestinian Territory
Panama
Papua New Guinea
Paraguay
Peru
Philippines
Pitcairn
Poland
Portugal
Puerto Rico
Qatar
Réunion
Romania
Russian Federation
Rwanda
Saint
Helena,
Ascension and Tristan da Cunha
Saint Kitts and Nevis
Saint Lucia
Saint Pierre and Miquelon
Saint Vincent and
The
Grenadines
Samoa
San Marino
Sao Tome and Principe
Saudi Arabia
Senegal
Serbia
Seychelles
Sierra Leone
Singapore
Slovakia
Slovenia
Solomon Islands
Somalia
South Africa
South
Georgia
and The South
Sandwich Islands
Spain
Sri Lanka
Sudan
Suriname
Svalbard and Jan Mayen
Swaziland
Sweden
Switzerland
Syrian Arab Republic
Taiwan
Tajikistan
Tanzania
Thailand
Timor-Leste
Togo
Tokelau
Tonga
Trinidad and Tobago
Tunisia
Turkey
Turkmenistan
Turks and Caicos Islands
Tuvalu
Uganda
Ukraine
United Arab Emirates
US Minor Outlying Islands
Uruguay
Uzbekistan
Vanuatu
Venezuela
Vietnam
British Virgin Islands
US Virgin Islands
Wallis and Futuna
Western Sahara
Yemen
Zambia
Zimbabwe
Kosovo
Industry *
Academia & Education
Aerospace, Defense &
Security
Agriculture
Asset Management
Automotive
Banking & Payments
Chemicals
Construction
Consumer
Foodservice
Government, trade bodies
and NGOs
Health & Fitness
Hospitals & Healthcare
HR, Staffing &
Recruitment
Insurance
Investment Banking
Legal Services
Management Consulting
Marketing & Advertising
Media & Publishing
Medical Devices
Mining
Oil & Gas
Packaging
Pharmaceuticals
Power & Utilities
Private Equity
Real Estate
Retail
Sport
Technology
Telecom
Transportation &
Logistics
Travel, Tourism &
Hospitality
Venture Capital
Tick here to opt out of curated industry news, reports, and event updates from Just Food.
Submit and
download
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.
“Both Oddlygood and Rude Health have complementary portfolios, target audiences and capabilities which will enable us to grow the business. What we’ve achieved with Oddlygood in such little time is down to the expertise and passion of our team. We’ll focus the same attention and care to Rude Health and look forward to collaborating with their team.’’
Set up in 2005 by Camilla and Nick Barnard, Rude Health produces plant-based milks, made from oat, cashew, coconut, brown rice and soya.
It also manufactures breakfast and snacks, including porridge, granola and buckwheat crackers.
The business is projected to hit its largest revenue to date in 2024 at £28m ($36.3m).
PepsiCo acquired a 9% stake in Rude Health five years ago.
Rude Health will continue to produce the same range of products following the transaction, with Oddlygood setting up a UK operations site.
Helsinki-based Oddlygood sells plant-based cheeses, milks, desserts and yogurts across Europe. Its dairy-free desserts range entered the UK in 2023, while its plant-based drinks launched on the market earlier this year.
Rude Health CEO Tim Smith said the acquisition “opens up new opportunities for growth and innovation, and our shared missions around taste, quality and the crucial role of plant-based food and drink make this a natural fit.
“We’re looking forward to working together and leveraging our strengths and making the healthy choice a celebration (not a sacrifice) for our customers. It’s an exciting new chapter for the brand and the team.”
Co-founder Camilla Barnard added: “Now is the right time to find a partner who can help take it to the next stage of success and Oddlygood shares so many values and the ambition to make this possible”.
In October 2023, Oddlygood bought the Swedish dairy alternatives brand Planti for an unknown sum. It took the brand over from the Norwegian food company Kavli Holding.
As part of the deal, Oddlygood became the owner of the Planti brand and intellectual property rights. It also acquired Planti’s production facility located in Turku, Finland.
Source link : http://www.bing.com/news/apiclick.aspx?ref=FexRss&aid=&tid=6720e6a945934ea8a021592376379a41&url=https%3A%2F%2Fwww.just-food.com%2Fnews%2Ffinlands-oddlygood-buys-uk-plant-based-peer-rude-health%2F&c=1925667164767340928&mkt=de-de
Author :
Publish date : 2024-10-29 06:42:00
Copyright for syndicated content belongs to the linked Source.
