7 of the biggest food and drink brand acquisitions in 2025 so far
We’re haven’t yet reached the mid-point of 2025, yet a flurry of food and drink giants have already made big moves to acquire or merge with other brands.
Just this week, Kingsmill owner Associated British Foods (ABF) and the private equity owner of Hovis, Endless LLP, have been in talks over a potential merger deal, which would combine two of the biggest bread brands in the UK.
Many others have already entered into deals, with some looking to premiumize their portfolios and others expanding into growing or international markets. We explore some of the biggest FMCG acquisitions of the year so far.
PepsiCo and Poppi
In March, PepsiCo acquired fast-growing functional soda brand Poppi for £1.5bn ($1.95bn).
Poppi combines prebiotics, fruit juice and apple cider vinegar to create low calorie soda with no more than five grams of sugar per serving.
Co-founder Allison Ellsworth says: “We can’t wait to begin this next chapter with PepsiCo to bring our soda to more people – and I know they will honour what makes Poppi so special while supporting our next phase of growth and innovation.”
PepsiCo Beverages US CEO Ram Krishnan adds that Poppi’s “unique intersection with wellness and culture is a perfect addition to our portfolio”.
“We are big fans of the Poppi brand movement and believe this incredible brand paired with our commercial capabilities will drive continued growth and innovation for years to come.”
Unilever and Wild
Last month, Unilever acquired personal care brand Wild, marking another step in the optimisation of the FMCG giant’s portfolio towards premium products.
Launched in the UK in 2020, Wild offers premium deodorants, lip balms, bodywashes and handwashes, using plant-based ingredients via a direct-to-consumer (DTC) and retail model.
Unilever said that the brand’s rapid growth, distinctive premium offer across personal care categories, and its position as the UK’s number one refillable deodorant brand, make it a “strategic addition” to its existing portfolio of personal care brands.
Wild co-founder Charlie Bowes-Lyon adds: “Our mission to remove single-use plastic from the bathroom with desirable, innovative personal care products will be hugely strengthened by leveraging Unilever’s expertise, scale and reach to further grow the brand and bring our vision to more consumers.”
Grubby and Allplants
In March, plant-based recipe kit company Grubby acquired the exclusive rights to the recipes and manufacturing methods for the entire product range of frozen ready meal brand Allplants.
Allplants was placed into administration on 22 November. The frozen ready meal challenger brand’s range of meals, desserts, breakfast pots and side dishes will now make a comeback under the Grubby brand. They will be available in both retail and direct-to-consumer (D2C) channels.
Grubby founder Martin Holden-White says: “We see this acquisition as a fantastic opportunity to bring these much-loved products back to life for customers across both D2C and retail, while honouring the incredible work Jonathan Petrides and his team did in developing them.
“Bringing this offer into the Grubby ecosystem makes perfect sense, as we know our customers want more plant-based options beyond dinner and it continues our collective mission to make plant-based eating more convenient, accessible, and delicious.”
Grubby is currently in discussions with manufacturing partners to help produce the range, as part of plans to reintroduce it to the market. The company said it welcomes potential partners who share its B Corp values to collaborate on bringing the products back to UK consumers.
Molson Coors and Fever-Tree
Carling owner Molson Coors has snapped up an 8.5% shareholding in Fever-Tree Drinks in a bid to drive the brand’s next stage of growth in the US.
The proceeds of the issue will be returned to shareholders via a share buyback programme of £71m, in a move Fever-Tree co-founder and chief executive Tim Warrillow has termed “transformational”.
The brands’ new long-term strategic partnership looks to boost the exclusive sales, distribution and production of Fever-Tree in the US, building on its “strong growth” in the country since first entering the market in 2008.
Warrillow says: “With a national network providing significant scale and muscle, alongside its proven track record, supply chain expertise and clearly stated strategic desire to drive the future of their business beyond beer, Molson Coors are the ideal long-term partner to take the Fever-Tree brand to the next level across the US.”
Greencore and Bakkavor
Convenience food manufacturer Greencore is to purchase chilled food specialist Bakkavor for £1.2bn, creating a UK food business with a combined revenue of £4bn.
The two food-to-go giants reached an agreement in principle for the acquisition, after Bakkavor previously rejected Greencore’s offer on two occasions, including a £1.1bn proposal in March.
Under the proposed deal, Greencore shareholders would own approximately 56% and Bakkavor shareholders would own approximately 44% of the combined group.
The companies cited benefits including a “diverse product offering and strong commercial relationships, managed by a broader set of customer dedicated teams and highly competitive capabilities in attractive segments across the UK”, as reasons to push ahead with the deal.
Müller and Biotiful
Last month, dairy giant Müller UK & Ireland acquired kefir brand Biotiful Gut Health in what is thought to be a multi-million pound deal.
Müller said the deal would allow it to broaden its growth into the functional health yoghurts and drinks sector.
Founded by Natasha Bowes in 2012, last year Biotiful reported a small dip in pre-tax profits to £2.4m in the year ending 31 March 2024. It achieved turnover of £35.5m.
The Compleat Food Group and The Real Yorkshire Pudding Co
Earlier this year, food manufacturer The Compleat Food Group bought The Real Yorkshire Pudding Company for an undisclosed figure.
Founded in 1992, The Real Yorkshire Pudding Company is a leading supplier of own label and branded chilled Yorkshire puddings in the UK, with listings in all major retailers. In recent years, it has posted double-digit growth in the category and reported a £33m turnover.
The brand’s acquisition adds to Compleat Food Group’s expanding portfolio. It aims to boost its position in the chilled prepared food sector, further extending its manufacturing capabilities and enabling the group to bring more category leadership and innovation to customers.
Compleat Food Group CEO Nick Field says: “The Real Yorkshire Pudding Co has a longstanding reputation for creating high-quality, delicious food that people love to eat, which perfectly aligns to our mission to create food to feel good.”
