Novus Foods emerges as Lakeview Farms and Noosa Yoghurt finalize merger

The refrigerated grocery industry is witnessing a major transformation with the official merger of Lakeview Farms and Noosa Holdings, Inc., forming the newly branded Novus Foods. The combined entity is positioning itself as a dominant force in the refrigerated grocery sector, leveraging the strengths of both brands to expand its reach, enhance product innovation, and meet the evolving demands of consumers.

The deal, initially announced on November 12, 2024, has now been completed following regulatory approvals and customary closing conditions. With this strategic consolidation, Noosa Yoghurt will continue to function as an independent division within Novus Foods, preserving its premium brand identity while benefitting from the broader market presence and distribution network of its parent company.

A Strategic Move to Dominate the Refrigerated Grocery Sector

The creation of Novus Foods reflects a larger industry trend of consolidation within the refrigerated grocery sector, as companies seek to strengthen their foothold in a market driven by consumer demand for fresh, high-quality products. The newly formed company is expected to capitalize on its combined expertise in innovation, leveraging a portfolio that spans yoghurt, dips, desserts, salsa, hummus, and specialty refrigerated items.

Industry analysts highlight that the merger presents a significant growth opportunity, as it allows Novus Foods to scale operations, optimize production, and expand its retail distribution. The company’s products are already stocked in leading grocery chains, including Walmart, Kroger, Albertsons, and Publix, ensuring wide consumer accessibility. A full rebrand to Novus Foods is anticipated by the second half of 2025.

How the Merger Enhances Brand Strength and Innovation

One of the key advantages of this merger is the integration of Noosa Yoghurt’s premium dairy expertise with Lakeview Farms’ established presence in refrigerated grocery products. Noosa, known for its whole-milk, Australian-style yoghurt, has built a reputation for its rich, creamy texture and innovative flavors. By joining Novus Foods, Noosa retains its brand independence while gaining access to a stronger operational framework.

The merger also includes Noosa’s state-of-the-art production facility in Bellvue, Colorado, allowing Novus Foods to scale up manufacturing capacity and improve supply chain efficiency. Additionally, approximately 240 employees from Noosa have transitioned to Novus Foods, ensuring operational continuity and preserving the brand’s expertise in high-quality yoghurt production.

Novus Foods aims to drive category growth by blending Noosa’s strengths in premium dairy innovation with Lakeview Farms’ broad expertise in fresh food production. This combined approach is expected to introduce new product innovations, catering to the increasing demand for premium refrigerated foods in the market.

Retail Expansion and Competitive Positioning

With an already robust retail presence across the United States, Novus Foods is expected to further solidify its competitive positioning in the refrigerated grocery sector. The company’s ability to offer a diverse portfolio of fresh foods places it in a strong position to meet shifting consumer preferences toward healthier, high-quality options.

The merger also supports the growing industry trend of expanding the refrigerated perimeter in grocery stores, where fresh and minimally processed products are seeing increasing demand. By strengthening its position in this category, Novus Foods aims to capitalize on rising consumer interest in fresh, high-protein, and natural food products.

Industry experts note that mergers of this scale are often driven by the need for supply chain optimization, cost efficiencies, and enhanced product innovation. Novus Foods is expected to benefit from shared resources, streamlined operations, and increased brand visibility, all of which contribute to a stronger market presence.

Financial Backing and Industry Outlook

The financial framework of the merger was supported by Citi, Truist, and TD Securities, with Citi serving as the lead financial advisor. These institutions provided financial backing to ensure a seamless transition and to support Novus Foods’ expansion strategy.

While the terms of the deal remain undisclosed, analysts suggest that Novus Foods is now well-positioned to compete aggressively in the growing refrigerated grocery sector. The company’s commitment to delivering high-quality, innovative fresh foods aligns with broader market trends, where consumer preference continues to shift toward natural, minimally processed, and fresh food options.

Future of Novus Foods and Industry Expectations

With the merger now finalized, Novus Foods is expected to focus on brand integration, product expansion, and operational scaling. The transition to a unified identity will be completed over the next year, ensuring a smooth rebranding process without disrupting existing retail partnerships.

The company’s diverse product range, which includes brands such as Fresh Cravings, La Mexicana, Señor Rico, and Salads of the Sea, adds depth to its offerings, allowing Novus Foods to cater to a broad consumer base. As demand for premium, refrigerated grocery products continues to rise, Novus Foods is poised to play a leading role in shaping the future of fresh food innovation.

Industry watchers will be closely monitoring how Novus Foods executes its growth strategy, particularly in terms of product innovation, retail expansion, and brand positioning. With a strong foundation and a significant growth opportunity, Novus Foods is set to make a lasting impact in the evolving landscape of refrigerated grocery products.