Danone Buys Meal-replacement Firm Huel

Credit: Pranav Kukreja/Shutterstock.com

Danone has snapped up UK meal-replacement business Huel.

Hertfordshire-based Huel, group up successful 2014, centres connected ready-to-drink shakes but besides markets products including powders and snack bars.

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“What they person achieved successful nan fast-growing complete nutrition abstraction afloat resonates pinch Danone’s ngo of delivering wellness done food,” Danone CEO Antoine de Saint-Affrique said.

Financial position were not disclosed. The Financial Times put nan acquisition value astatine astir €1bn ($1.15bn). Just Food has approached Danone for comment.

Set up successful 2014 by entrepreneur Julian Hearn and erstwhile NHS dietician James Collier, Huel – a portmanteau of quality substance – sells its plant-based products successful nan UK, continental Europe and nan US.

The institution started retired arsenic a direct-to-consumer business but now besides markets its products done bricks-and-mortar unit outlets.

Past investors person included VC patient Highland Europe and finance slope Morgan Stanley.

Huel CEO James McMaster, who joined nan business successful 2017, said nan waste to Danone “marks nan adjacent step” for nan company.

He added: “We’ve spent 10 years building a marque pinch a affirmative effect connected people’s health. We’ve grown into an omnichannel business pinch a beardown direct-to-consumer foundation, an expanding world footprint and a unit business that’s scaling quickly.

“With Danone, we will now person nan infrastructure, distribution and R&D capacity to spell further, into caller markets and to much people, arsenic request for convenient, complete nutrition continues to grow.”

The astir caller group of Huel accounts disposable astatine Companies House, nan UK business register, show nan firm’s gross stood astatine £214m for nan 12 months to 31 July 2024, up 16% connected a twelvemonth earlier.

Pre-tax profits almost trebled to £13.8m. Its profit for nan twelvemonth was £13.1m, versus £2.2m successful nan erstwhile 12 months.