Irish co-operative Lakeland Dairies has acquired Taste Trends Limited - the owner of frozen yoghurt producer Coolicious - for an undisclosed sum.
Surrey-based Taste Trends is a specialist in added-value frozen refreshment and the largest manufacturer of frozen yoghurt in Europe, selling more than 17m portions through the foodservice channel every year.
Founder and MD Richard Drane and his management team will remain in the role following the company’s purchase by Lakeland.
Drane said the deal would allow the company to grow further into the casual dining, snack, and healthy refreshment markets, and hinted that the brand could eventually look to target the grocery sector.
“The Frozen Yogurt market is coming of age with leading foodservice operators now starting to offer the healthy indulgence of the Coolicious range,” he said. “We are also seeing a lot of interest from the multiple grocery trade for frozen yoghurt to be introduced into supermarket cafes as a destination product, and that would be a natural extension for the Coolicious brand,” Drane added.
Lakeland Dairies CEO Michael Hanley, said the frozen yoghurt category was an “appealing, natural and wholesome product” which was proving immensely popular with consumers worldwide. “As a product category Taste Trends are perfectly aligned with global trends of healthy eating, natural dairy products and food customisation,” he added.
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