TPG takes majority stake in THE MADE GROUP
Context
TPG Capital has acquired a majority stake in Made Group from its historical shareholders, including The Coca-Cola Company, Coca-Cola Amatil, as well as the company's founders and management team. This transaction marks a new chapter in the growth story of this Australian specialist in premium health and wellness beverages, while allowing the management team to retain a significant equity stake. The primary objective of this acquisition is to accelerate Made Group's international expansion, particularly in Asian markets, by leveraging TPG Capital's financial resources and expertise in the consumer goods sector. The investor also plans to support the company in pursuing an external growth strategy, with the aim of establishing a leading regional platform in functional beverages and wellness products. The transaction is underpinned by Made Group's strong fundamentals, including a portfolio of recognized brands such as Cocobella, Impressed, Rokeby Farms, and Nutrient Water.
THE MADE GROUP, which reported an EBITDA margin of in 2021, is valued in this transaction at an EV/EBITDA multiple of , a level to compare with the average currently observed in the AgriFood sector (10.5x).
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Target
Headquartered in Melbourne, Australia, MADE Group is a leading food and beverage company specializing in functional nutrition products. The company develops, manufactures, and markets a portfolio of brands that cater to the growing demand for digestive health, protein, and functional beverages, combining nutritional benefits with everyday consumption. Its portfolio includes ready-to-drink protein beverages, gut health-focused enriched yogurts, and coconut-based products, all marketed under several well-known brands in the Australian market. These categories target health-conscious consumers, athletes, and individuals seeking high-protein products. The group operates an integrated business model that combines product development, industrial capabilities, marketing, and distribution, enabling it to launch new products quickly while controlling its supply chain and go-to-market strategy. MADE Group distributes its products through major retailers, specialty channels, and multiple sales platforms across the Asia-Pacific region. With a historical presence in Australia, the company has expanded its footprint to New Zealand and Southeast Asia, where the demand for functional nutrition products is experiencing sustained growth.
Ent. Value
Equity Value
Multiples
EV / Revenue
EV / EBITDA
EV / EBIT
Historical Financials (AUD)
Other operations with THE MADE GROUP
| Date | Acquirer | Target | Country | Sector |
|---|---|---|---|---|
| 06/2026 | DANONE | THE MADE GROUP | AUSTRALIA | Dairy |
REFERENCES
Revenue range: 50M - 100M AUD
EBITDA range: 10M - 30M AUD
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Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.
Target: the made group
Acquirer: tpg