Danone agrees deal to acquire UK complete nutrition brand Huel, strengthening its functional nutrition portfolio and supporting global growth.
Danone has entered into a definitive agreement to acquire British complete nutrition brand Huel, strengthening its presence in functional nutrition and expanding into the rapidly growing complete nutrition category.
The deal, announced today, forms part of Danone’s Renew Danone strategy and will combine Huel’s digital-first brand and product range with Danone’s global scale, distribution and nutrition expertise.
The Financial Times reported the acquisition is valued at around €1bn ($1.15bn), citing a person close to the company, although Danone has declined to comment on the deal’s value.
Huel produces nutritionally complete foods including ready-to-drink meals, powders, snack bars and savoury meals made from plant-based ingredients fortified with vitamins and nutrients. Originally launched as a direct-to-consumer powder brand, it has grown into an omnichannel business and is now sold in more than 25,000 retail stores worldwide.
Huel’s backers have included actor Idris Elba and his wife, presenter Jonathan Ross and entrepreneur Steven Bartlett.
Danone said the acquisition will extend its reach into the “Complete Nutrition” space while accelerating growth and innovation through the combination of Huel’s digital capabilities and Danone’s international infrastructure.
Antoine de Saint-Affrique, Chief Executive Officer of Danone SA, said:
We are delighted to welcome Huel and the Huel team into the Danone family. 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.
We look forward to learning from one another and unlocking new opportunities and growth for both businesses.”
Huel’s rapid growth in the complete nutrition market
Founded in 2014 by Julian Hearn and nutritionist James Collier, Huel has built a strong following among health-conscious and time-poor consumers across the UK, Europe and the US. The brand has been particularly successful through its direct-to-consumer model supported by strong digital marketing and a loyal online community.
Huel reported £13.8m in pre-tax profit on revenues of £214m in 2024, according to its latest Companies House accounts. Revenues increased to more than £250m the following year, with profit margins of around 10 percent.
James McMaster, Chief Executive Officer of Huel, commented:
We are so excited to be joining Danone, and today marks the next step for Huel. We’ve spent ten 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.
At the centre of it all is a loyal customer base. Most people don’t get enough protein, fibre, 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.”
McMaster will remain head of Huel, with the brand operating as an autonomous business within Danone and reporting into Danone’s head of Europe.
The transaction remains subject to customary closing conditions, including regulatory approvals.
