Advent International puts Noosa Yoghurt up for sale – report

first_imgAdvent International puts Noosa Yoghurt up for sale – reportPosted By: News Deskon: January 16, 2018In: Business, Dairy, Food, Industries, Mergers & AcquisitionsPrintEmailPrivate equity firm Advent International is to sell its dairy brand Noosa Yoghurt, according to a report in The New York Post.The yogurt brand, which was founded in the city of Noosa in Australia, has continued to post double-digit sales growth and generated $170 million in sales last year.Reports suggest that Advent is seeking roughly $600 million for the brand, which makes yogurts with flavours such as raspberry habanero, and strawberry hibiscus.Advent bought Noosa in 2014 when it had $75 million in sales per year and distribution in 5,000 US stores. It is now available in 25,000 shops.The deal was announced five years after Noosa launched it first lines of extra-creamy Australian-style yogurt, and while in the midst of a $5 million plant expansion to add processing and packaging capacity.Advent appointed Former Heinz CEO Bill Johnson and former Nestlé USA CEO Brad Alford to the brand’s board of directors.The New York Post said that possible buyers could be Chobani, Danone or General Mills.If a deal does go ahead it would be the second major yogurt brand acquisition this year following on from Lactalis’s purchase of Siggi’s. Emmi, will sell its 22% stake in the brand as it now aims to focus its US business on milk and cheese products.Share with your network: Tags: Advent InternationalNoosa YoghurtUnited Stateslast_img read more