Danone acquires Huel for €1 billion

Danone has struck a deal to acquire Huel, the cult-favourite meal replacement brand, for around €1 billion. The move marks a significant step in the company’s push into functional and complete nutrition, and extends its portfolio into the fast-growing complete nutrition space.

Huel has built a loyal following across the UK, Europe, and the US, selling nutritionally complete shakes, powders, bars, and meals through a direct-to-consumer model that has consistently outpaced traditional food retail in speed and engagement. Its products will open an entirely new lane in Danone’s portfolio.

James McMaster, Chief Executive Officer, Huel, commented on the news: “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.”

The deal is a direct expression of Danone’s Renew Danone strategy: sharpen the focus, move into high-growth categories, and back brands with genuine consumer traction. Huel fits that brief precisely. Where Danone brings global scale, distribution, and innovation capability, Huel brings cultural relevance, digital expertise, and a community that doesn’t need to be convinced that food should work harder. Huel’s mission to make nutritionally complete, convenient, sustainable food, aligns closely with Danone’s purpose of bringing health through food to as many people as possible.

Danone’s Chief Executive Officer, Antoine de Saint-Affrique, 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.”

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The transaction is subject to regulatory approval before closing.