French dairy company Danone agreed to acquire Melbourne-based MADE Group and Saputo’s 49% stake in their Australian dairy joint venture, giving Danone full ownership of the business. The two major acquisitions are worth more than $1.5bn

The deals strengthen Danone’s position in the fast-growing health, protein and plant-based nutrition categories and are expected to double the size of its dairy and plant-based business in the Asia-Pacific region.

Under the transaction, Danone will take full control of yoghurt brands, including YoPRO, Activia and Ultimate, which are produced at the Kiewa facility in Victoria. Operations are expected to continue largely unchanged, with Danone leasing part of the site and sourcing milk through a third-party supplier, while Saputo continues manufacturing other products at the facility.

The deals remain subject to regulatory approvals and are expected to be completed in the second half of 2026.