Finnish alt-dairy specialist Oddlygood has announced its acquisition of British plant-based drinks, cereals and snacks brand Rude Health for an undisclosed sum.
Oddlygood was launched by dairy company Valio in 2018 and became a spin-off in 2021, offering a range of oat, soy and almond drinks as well as alternatives to cheese, yogurts, cooking products and desserts.
Following its success in the Nordics, the company launched in the UK in June 2023, and is now looking to grow its presence in the country – described as a key territory for the brand – through its acquisition of Rude Health. In six years, Oddlygood has grown to an anticipated turnover close to €50 million this year.
Rude Health was founded in 2005 by Camilla and Nick Barnard. The company’s portfolio of products is now available at major retailers and foodservice operators throughout the UK. Rude Health also opened a café in London in 2016. The BCorp-certified brand is on track to deliver £28 million in revenue in 2024, its biggest year yet.
Through the deal, Oddlygood will establish a base for its UK operations and support both brands’ UK and European expansion. Rude Health will continue to produce its portfolio of products, which includes granola, muesli and milk alternatives.
Tim Smith, CEO of Rude Health, said: "Joining forces with Oddlygood 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."
Niko Vuorenmaa, CEO of Oddlygood, said that Rude Health and Oddlygood’s "strong alignment" will be key to the success of Oddlygood’s ambition to become a leading plant-based company in the UK and Europe, thanks to their complementary portfolios, target audiences and capabilities, allowing both brands to grow alongside one another.
He commented: "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."
"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 we’ll work in partnership with the team there to build on its reputation as a high quality and loved brand and partner."
This latest announcement marks the second recent acquisition for Oddlygood, following its purchase of Nordic plant-based brand, Planti, in 2023.
With value sales in the UK dairy alternatives market forecast to increase by 50% over the next five years according to Mintel data, Oddlygood aims to capitalise on the country’s opportunities for innovation and increase its market share within the UK plant-based drinks category (valued at £511 million by Nielsen) through its deal with Rude Health.
Vuorenmaa added: "The UK market is notoriously competitive with established leaders, but we believe that bringing these brands and teams together will reinvigorate the market and re-engage both new and existing users of plant-based products. We have total confidence in the future of the UK and European markets and the quality of the brands and the products now in our portfolio."
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