Rude Health, one of Britain’s best known plant-based milk brands, has been acquired by Oddlygood, one of the leading brands in the Nordic plant-based market.
The terms were undisclosed, but Rude Health was valued at over £70m in 2020 when it sold a 10% share to PepsiCo.
Since then, its revenue has grown 25% to £23.8m in the year to March 2024, according to its latest accounts, while pre-tax profit is up from £8k to £101k.
Rude Health was founded by Camilla and Nick Barnard in 2005 with just over £4k in startup cash.
Both are expected to make a seven-figure sum each from the sale, having previously owned just over 50% of the business.
Finnish food and drink company Oddlygood is a spin-off of Valio, the Finnish dairy giant, and has an anticipated turnover close to €50m this year.
Oddlygood CEO Niko Vuorenmaa said its ”ambition is to become one of the leading plant-based companies in the UK and Europe and this acquisition will help accelerate this”.
Rude Health has become known for its bold and colourful branding, which has helped drive a transformation within the category.
“Everybody told us not to do it because it was wrong for the category,” Barnard told The Grocer in 2022. “We went: we know it’s healthy, let’s not double down on looking healthy. Let’s do the exact opposite and make this look like the most desirable thing ever.”
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