Lakeview Farms, a portfolio company of CapVest Partners LLP, has announced plans to acquire the noosa yogurt brand from Campbell Soup Company.

noosa is a manufacturer and marketer of whole-milk, Australian-style yogurt products, known for their rich, creamy texture and unique flavors. The transaction includes all noosa yoghurt trademarks and its manufacturing facility in Bellvue, Colorado. Approximately 240 noosa team members will transition to Lakeview Farms with the business.

Lakeview Farms, headquartered in Ohio, produces refrigerated desserts, dips, salsa, hummus and specialty products under several brands including Fresh Cravings, La Mexicana, Señor Rico and Salads of the Sea. This acquisition adds to Lakeview's refrigerated portfolio and expands its presence into the yogurt category.

"We are excited to welcome the noosa yoghurt brand and team to the Lakeview Farms family," says Lakeview Farms CEO Tom Davis. "noosa fits perfectly into our portfolio of premium refrigerated food brands and offers Lakeview a unique opportunity to step into the high-growth yogurt category. Noosa also brings us a team with deep talent and expertise and a state-of-the-art manufacturing facility. We look forward to noosa joining us as we continue building our business through commitment to innovation, quality products, and world-class manufacturing and distribution."

Campbell purchased noosa as part of the Sovos Brands, Inc. acquisition in March 2024. At that time, the company shared its intention to evaluate strategic alternatives for the brand, as the yogurt category is not core to Campbell’s strategy.

Campbell reported the noosa business generated net sales of $177 million for the last 12 months ending October 2024. The company does not expect the divestiture to have a material impact to its fiscal 2025 financial results. The transaction is expected to be dilutive to earnings per share by approximately $0.01 in fiscal 2025.

“Noosa is a well-run business supported by a great team,” says Mick Beekhuizen, executive vice president and president, Campbell’s meals and beverages. “We are pleased that its new home will be with a buyer with a strategic focus on the refrigerated category. The sale will drive greater focus on our portfolio of leadership brands.”

The transaction is anticipated to close in the first quarter of 2025, subject to customary closing conditions. Terms of the transaction were not disclosed.