The move will see Shaken Udder joining Idilia’s three-strong portfolio which comprises ColaCao – a popular soluble cocoa product in Spain, Nocilla – a cocoa and hazelnut spread, and Paladin – a hot cocoa mix.
It will also mark the departure of Shaken Udder’s founders, Jodie and Andy Howie, with managing director Rob Reames assuming the role of CEO.
In addition, David Garman will step down as chair, while the CEO of Idilia, Xavi Pons, will join the board. The acquisition has also resulted in Lloyds Development Capital (LDC) exiting the business.
Shaken Udder will continue to operate as an independent unit, retaining the rest of its current team.
Headquartered in Essex, the UK milkshake business was founded in 2004 after its founders spotted a gap in the market for dairy-based drinks in the festival scene.
Shaken Udder, which is focused on premium milkshakes made with fresh milk and ‘real’ ingredients, has benefitted from rising demand for clean label and high quality. Today, the brand is worth £45 million in retail sales value (RSV), and is stocked in major retailers including Sainsbury’s, Tesco and Asda as well as the convenience channel.
Over the last four years, Shaken Udder has increased revenue by 91%; achieved 23.5% CAGR, outpacing the market; and increased retailer distribution points by 14,500.
Its range features seven flavours, including Chocolush, Salted Caramel, Vanillalicious, and Top Banana.
Through this acquisition, Shaken Udder is hoping to reach new consumers and channels, and accelerate its product innovation pipeline.
“This is a major milestone in Shaken Udder’s evolution, as we aim to build our brand awareness, accelerate product innovation, and bring the delicious taste of Shaken Udder to more people,” said Reames.
“From the first meeting, it was clear that Idilia and Shaken Udder shared the same vision - like us, they are a family-owned business with a purpose to provide meaningful moments of pleasure. This commitment will not change, nor the team behind it: with Idilia’s support, we hope to accelerate Shaken Udder’s growth whilst shaking up the dairy category.”
Pons added: “Shaken Udder is a perfect fit with Idilia’s strategic approach and helps us take our corporate purpose even further: to create those small yet meaningful moments of pleasure and positive emotions that contribute to people’s emotional well-being. We are very pleased to welcome Shaken Udder into the Idilia ecosystem and look forward to helping it grow and add real value to the milkshake segment.”
