Oddlygood acquires Rude Health to strengthen position in UK

UK – Finnish plant-based food company Oddlygood has expanded its foothold in the UK and European markets by acquiring British brand Rude Health. 

The financial details of the deal have not been disclosed, but the acquisition marks a strategic step for Oddlygood as it seeks to become a prominent player in the rapidly growing plant-based food sector.

Oddlygood, a leader in the Nordic market, has achieved substantial growth since its inception in 2018. The company is projected to reach an annual turnover of nearly €50 million (US$52.6M) in 2024. 

It offers a diverse range of plant-based products, including milk alternatives, cheeses, desserts, cooking ingredients, and yogurts. Oddlygood launched its plant-based desserts in the UK in 2023 and entered the UK’s competitive plant-based drinks category earlier this year.

The acquisition of Rude Health aligns with Oddlygood’s mission to elevate the standards of plant-based food and beverages. The UK remains a pivotal market for Oddlygood, and this deal is expected to drive growth across the broader European region.

Rude Health: From kitchen table to global brand

Founded in 2005 by Camilla and Nick Barnard, Rude Health began as a passion project at the couple’s kitchen table. 

Over the years, it evolved into a household name, offering a wide array of plant-based drinks, cereals, and snacks. The brand is available in major retailers and food service outlets in more than 40 countries, complemented by a thriving online presence.

This year, Rude Health is projected to achieve its highest-ever revenue of €33 million (US $34.7M). 

The company also recertified as a BCorp with a score of 120.7, placing it among the top three food and beverage brands in the UK. Its commitment to quality and innovation extends to a London café, which has been operating since 2016.

Rude Health’s CEO, Tim Smith, emphasized that the acquisition creates opportunities for growth and innovation, with shared values between the two companies ensuring a seamless transition. 

“Joining forces with Oddlygood opens up new opportunities for growth and innovation,” Smith said.

Oddlygood’s expansion strategy

The acquisition of Rude Health is Oddlygood’s second major purchase, following its 2023 acquisition of Nordic plant-based brand Planti. 

Oddlygood, originally established by Finnish dairy giant Valio, has leveraged Valio’s century of dairy expertise to expand its portfolio into plant-based products. Since spinning off in 2021, Oddlygood has grown at an annual rate of over 40%.

Niko Vuorenmaa, Oddlygood’s CEO, highlighted the potential of combining the two brands’ strengths to capture greater market share. 

“The UK market is notoriously competitive, but we believe bringing these brands and teams together will reinvigorate the market,” Vuorenmaa stated.

Oddlygood’s product innovation includes its popular Barista Oat drinks, which maximize oat utilization to reduce waste while delivering high-quality taste. 

Its commitment to sustainability and efficiency reflects broader trends in the global plant-based dairy alternatives market, which is projected to grow to €63.6 billion (US$66.9Bn) by 2030.

Industry context and advisory support

The plant-based food market is experiencing renewed interest as consumer demand for sustainable and healthier alternatives continues to grow. 

Oddlygood and Rude Health aim to capitalize on this trend by expanding their portfolios and strengthening their presence across key markets.

The transaction was facilitated by leading advisors, with Rude Health represented by Spayne Lindsay & Co., a consumer-focused M&A firm, and Oddlygood advised by Nordic M&A specialist Access Partners.

With this acquisition, Oddlygood plans to establish a UK-based operational hub, further signaling its long-term commitment to the region. Both companies expressed confidence in the partnership’s potential to deliver high-quality products while maintaining their respective brand identities.