Lakeview Farms and Noosa merge to expand refrigerated food offerings
US-based Lakeview Farms has merged with yogurt brand Noosa Holdings to combine the businesses into a new company, Novus Foods. The move aims to position Novus Foods as a consumer packaged goods company for the “refrigerated perimeter of the grocery store,” notes the firm.
Noosa yogurt will operate as a stand-alone division of Novus Foods, and the rebranding is expected to be completed in the second half of 2025.
The integration includes Noosa’s products, yogurt experts, and a production facility in Bellvue, Colorado. Around 240 Noosa team members have also joined Novus Foods.
Tom Davis, CEO of Lakeview Farms, believes the move provides the businesses with the opportunity to leverage their strengths and innovate within the growing yogurt category and beyond.
“Novus Foods will embody the companies’ combined expertise and passion for delivering high-quality, innovative fresh foods to consumers.”
The terms of the merger have not been disclosed.
Global yogurt sales and volume have grown steadily over the past five years at 5% and 6% CAGR, respectively, according to Innova Market Insights. Growth is predicted to accelerate, reaching 6% CAGR in sales and 7% in volume over the next five years.
Diversifying portfolio
Novus Foods combines Noosa’s expertise in whole milk, Australian-style yogurt — made with whole milk, real fruit, and wildflower honey — with Lakeview Farms’ diverse portfolio of refrigerated desserts, dips, salsa, hummus, and specialty products.
The combined product offerings will include brands such as Fresh Cravings, La Mexicana, Señor Rico and Salads of the Sea. The products are available at retail outlets like Walmart, Kroger, Albertson’s, and Publix.
Lakeview Farms expanded into the yogurt category by acquiring the Noosa yogurt brand from Campbell Soup Company last year. The move added significant size and scale to Lakeview’s refrigerated portfolio and propelled its growth in the US market.
In other yogurt updates, General Mills is planning to sell its North American yogurt business to French dairy companies Lactalis and Sodiaal in a US$2.1 billion cash deal. Upon finalization, Lactalis will acquire the US business, and Sodiaal will take over the Canadian firm.
