Noosa yogurt acquired by Sovos Brands
Australian ex-pat Koel Thomae co-founded Noosa Yoghurt in 2009 with Colorado dairy farmer Rob Graves. Her determination to bring the Aussie-style yogurt with a creamy texture and sweet-tart flavor profile to the US resulted in more than 40 flavors and varieties sold in grocery chains nationwide.
Sovos announced the merger would be its first yogurt brand and explained its mission to “acquire premium, on-trend brands with high-quality products that have significant growth opportunities, combining industry expertise with fresh thinking to bring authentic, delicious food into more homes.”
Noosa is made with whole milk, wildflower North American honey and real fruit purées. It sells classic tubs, dual-flavor cups and mix-in options in various sizes.
Tripling growth nationwide
Sovos has focused on portfolio growth in the last two years and recently acquired Italian food brands Michael Angelo's Gourmet Foods and Rao's Specialty Foods Inc.
Todd Lachman, president and CEO of Sovos Brands, said, "Noosa fits perfectly into our portfolio of one-of-a-kind brands in the food and beverage sector, and we have been impressed by its compelling growth opportunities, attractive consumer demographics and talented employee base."
Sovos plans to continue manufacturing Noosa products at its Bellvue, Colorado, facility and guide the brand into its next phase of growth.
Advent International backs Sovos and also acquired a majority interest in Noosa in November 2014. During its ownership, Noosa has accelerated growth by tripling its sales, market share and local production capacity in Colorado. It also launched more than 25 new flavors and varieties, growing from 5,000 stores to 25,000 nationwide.
Jeff Case, a managing director at Advent, said, "Noosa's merger into Sovos is a clear and logical next step for both companies, as they share the same brand and customer-centric values and growth goals. Noosa has established itself as a market leader in the premium yoghurt category, and we are confident that it will be well positioned for continued success as part of Sovos Brands.”
