Lakeview Farms, noosa finalize merger, form Novus Foods

USA – Lakeview Farms, backed by CapVest Partners LLP, has successfully merged with noosa Holdings Inc., forming a new entity named Novus Foods.

The name is said to reflect the company’s ambition to lead the consumer packaged goods market for refrigerated grocery products.

The merger, which was initially announced on November 12, was completed after securing all necessary regulatory approvals and meeting standard closing conditions.

Under the new structure, noosa yoghurt will continue to operate as a stand-alone division of Novus Foods. The financial details of the transaction were not disclosed.

Tom Davis, CEO of Lakeview Farms, expressed enthusiasm about the merger, stating, “We are thrilled to join the noosa yogurt business with Lakeview Farms as we create Novus Foods.”

“This represents a huge opportunity for both businesses to leverage their strengths and innovate within the growing yogurt category and beyond.”

Novus Foods is expected to strengthen its market position by utilizing the combined expertise of both companies.

The company’s products are already available in major retail stores such as Walmart, Kroger, Albertsons, and Publix.

The transition to the Novus Foods brand is set to be completed in the latter half of 2025.

noosa is widely recognized for its Australian-style, whole-milk yogurt, known for its creamy texture and distinctive flavors.

The merger incorporates noosa’s established portfolio, experienced workforce, and a state-of-the-art production facility in Bellvue, Colorado.

Approximately 240 noosa employees have transitioned to Novus Foods as part of the agreement.

Paula Benedetto, senior vice president and general manager of noosa, emphasized the strategic benefits of the merger, stating, “We are excited to join Lakeview Farms, a company that shares our deep commitment to quality and a passion for the refrigerated snacking space.”

“Together as Novus Foods, we have a stronger platform to continue growing and delivering exceptional products to our customers and consumers.”

The financing for the merger was arranged by Citi, Truist, and TD Securities, with Citi serving as the lead financial advisor to Lakeview Farms. Truist and TD Securities also provided advisory services to the company.

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