Australian juice brand Nudie has confirmed it has sold its business to Philippines-based company Monde Nissin.
The agreement, believed to have been made in late December last year, will see Nudie CEO James Ajaka stay on with the company for at least six months. The arrangement will also mark a play to extend the brand overseas into Asia.
“Monde Nissin are a group of people that share very similar values to us and have the resources required to take our much loved Nudie to the next level both in Australia and also various markets across the Asia Pacific,” Ajaka said.
“The Nudie team will remain in place - including me - and we remain committed to all our staff, consumers, customers and suppliers including our Australian farmers who provide over 93% of our fruit.”
Nudie currently has a 29% share of the Australian juice market.
The deal follows a recent marketing push by Nudie, which saw the brand launch its first TV campaign and an extensive summer outdoor campaign as part of its Nudie & Soda product launching into Coles supermarkets.
At the time, Nudie marketing manager Carlie Platts told AdNews: “While experiential marketing, sampling and event is always going to be true to our heart, we also want to reach the masses, that's why we are exploring new things for us.”
Monde Nissin recently acquired Australian dip brand Black Swan in July last year and is believed to be in the final stages of acquiring another Aussie dip maker, Menora Foods.
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