Following the acquisition, Rude Health will continue to manufacture its plant-based products while Oddlygood will establish a base for its UK and European operations in support of its expansion plans.
Oddlygood was launched by dairy major Valio in 2018 and was spun-off in 2021. Today, the brand is the second largest maker of plant-based dairy alternatives in Finland and the second largest plant-based beverage brand in Sweden, according to NielsenIQ data. The company is projecting a turnover of around €50m this year, according to Valio.
One of Oddlygood’s USPs is that it uses 100% of the oat flour processed into its barista-style beverages, which in turn results in thicker and smoother texture, according to the company. The drinks are also gluten- and palm oil-free.
Besides the Nordics, Oddlygood is also present in the Baltics, Ireland, the Netherlands, Spain, Portugal, Poland and Belgium. In the UK, the brand is relatively new, having launched plant-based spoonable desserts and beverages in the last two years. But the UK is seen as a key growth territory and the acquisition is hoped to further diversify the Finnish brand’s offering outside the Nordics.
To that end, Rude Health’s plant-based beverages are the fifth best-selling products in their category in the UK. The British brand – co-founded in 2005 by Camilla and Nick Barnard – is also sold in more than 40 countries. It majors on organic, clean-label claims, maintaining an ingredient list that contains no artificial or refined additives with minimal amounts of natural stabilizers and oils.
Rude Health CEO Tim Smith said that joining forces with Oddlygood ‘opens up new opportunities for growth and product innovation’. “Our shared mission regarding taste, quality and the central role of plant-based food and drink makes us natural partners. We look forward to working together, leveraging our strengths and making healthy choices a joy for our customers instead of a sacrifice. This is the start of an exciting new era for our brand and our team.”
Rude Health founder Camilla Barnard added: “We founded Rude Health to make a healthy diet a joy, not a sacrifice. We started with muesli and cereals and expanded to plant-based drinks. Since then, Rude Health has grown to a size I could hardly have dreamed of and a brand that everyone knows in their home country.
“Now is the right time to bring a partner on board, which can take us to a new stage of growth. Oddlygood shares our values and ambitions, which makes this possible.”
Oddlygood CEO Niko Vuorenmaa said: “Oddlygood and Rude Health have complementary product ranges, target groups and know-how, which creates excellent conditions for joint growth. We have achieved a lot with Oddlygood in a short time. Thanks to the professional and passionate growth of Oddlygood We will focus the same attention and care on Rude Health and look forward to working with their team.”