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Finnish company Oddlygood has acquired British brand Rude Health, both known for plant-based products, for an undisclosed sum.
In a statement, Oddlygood said the move will see the company increase its market share of the competitive United Kingdom (UK) plant-based drinks category, worth an estimated £511 million (US$650.79 million).
Established in 2018, Oddlygood has grown to an estimated turnover close to €50 million (US$53.06 million) and stocks a range of plant-based alternatives to milk, cheese, desserts, cooking products, and yogurts.
Meanwhile, Rude Health, founded in 2005, is available in retailers and foodservice operators in over 40 countries. In 2024, the company is expected to achieve €33 million (US$35.02 million) in revenue, said to be its biggest year to date. Recently, the company recertified as a B Corp with a score of 120.7, placing it in the top three food and drink brands in the UK.
Oddlygood said Rude Health will continue making the products customers are familiar with. The Finnish company will also establish a base for its UK and European operations and support the expansion plans.
“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,” says Niko Vuorenmaa, Oddlygood CEO.
“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.”
Rude Health CEO Tim Smith says joining forces with Oddlygood creates new opportunities for growth and innovation, with the companies’ shared commitment to taste, quality, and the importance of plant-based food and drink making the acquisition 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,” he says.
The post Oddlygood acquires British plant-based company appeared first on Global Coffee Report.
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