PARIS – Danone SA has announced it is set to acquire Huel, the U.K.-based protein shake-, meal- and snacks-maker.
Financial terms were not disclosed, but media reports peg the deal value at 1 billion euros.
“We are delighted to welcome Huel and the Huel team into the Danone family,” Antoine de Saint-Affrique, Danone chief executive officer, said in a statement Monday. “What they have achieved in the fast-growing complete nutrition space fully resonates with Danone’s mission of delivering health through food.
“Combining their range and best-in-class digital capabilities with Danone’s global reach and deep nutritional expertise offers exciting opportunities into the new and fast-growing nutritionally complete space, in line with our Renew Danone strategy,” he continued. “We look forward to learning from one another and unlocking new opportunities and growth for both businesses.”
“We are so excited to be joining Danone, and today marks the next step for Huel,” said James McMaster, Heul’s CEO. “We’ve spent 10 years building a brand with a positive impact on people’s health. We’ve grown into an omnichannel business with a strong direct-to-consumer foundation, an expanding international footprint, and a retail business that’s scaling quickly.
Huel drinks
Courtesy of Huel
“At the center of it all is a loyal customer base,” he added. “Most people don’t get enough protein, fiber or the right nutrients. That’s the problem Huel exists to solve. With Danone, we will now have the infrastructure, distribution and R&D capability to go further, into new markets and to more people, as demand for convenient, complete nutrition continues to grow. We’re so proud of what the team has built, and excited about what comes next.”
Julian Hearn and James Collier founded Huel in 2015 to provide simple human fuel: an ethical, wholly vegan nutritionally complete product with no waste and a shelf life of one year.
Huel’s portfolio includes powdered meals, greens and superfoods, hot meals, ready-to-drink meals and high-protein snacks.
The company employs more than 100 people. Its U.K. headquarters is in Tring, Hertfordshire, and its U.S. headquarters is in Brooklyn, New York.
