UK – Oddlygood, a Nordic plant-based food and drinks company owned by Finnish dairy giant Valio, has made a significant move by acquiring the UK-based plant-based brand Rude Health.
The financial details of the acquisition have not been disclosed, but Oddlygood views this strategic purchase as a means to bolster its presence in the UK plant-based drinks market.
The CEO of Oddlygood, Niko Vuorenmaa, emphasized the company’s ambition to become a leading player in the UK and European plant-based sectors.
He stated that the acquisition aligns perfectly with Oddlygood’s goals, highlighting the successful trajectory of Rude Health as a notable brand in British plant-based food.
Vuorenmaa expressed confidence in the complementary nature of both companies, which share similar target audiences, portfolios, and capabilities that will drive mutual growth.
Founded in 2005 by Camilla and Nick Barnard, Rude Health has established itself as a prominent producer of plant-based milks, utilizing ingredients such as oat, cashew, coconut, brown rice, and soya.
The company also manufactures a variety of breakfast products and snacks, including porridge, granola, and buckwheat crackers. Rude Health is projected to achieve record revenue in 2024, with estimates reaching US$36.3 million.
PepsiCo previously acquired a 9% stake in Rude Health five years ago, illustrating the brand’s appeal and growth potential within the competitive plant-based market.
Following the acquisition by Oddlygood, Rude Health will maintain its existing product range while establishing a new operations site in the UK.
Rude Health’s CEO, Tim Smith, expressed enthusiasm for the acquisition, stating that it presents new opportunities for innovation and growth.
He noted the shared commitment to quality and taste between the two companies, which positions them well to enhance customer experiences.
Co-founder Camilla Barnard echoed this sentiment, indicating that the partnership with Oddlygood is timely and aligns with their shared values and ambition.
Oddlygood’s recent acquisition of Rude Health follows its purchase of the Swedish dairy alternatives brand Planti in October 2023, further indicating its strategy to diversify and strengthen its market position.
The Planti acquisition included the brand and its intellectual property rights, along with a production facility located in Turku, Finland.
As Oddlygood continues to expand its footprint in the plant-based market, the acquisition of Rude Health is expected to enhance its capabilities and market share, enabling both brands to thrive in the evolving food landscape.
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