Danone has announced it will acquire Huel as it looks to extend its functional nutrition portfolio.
Huel offers complete, nutritionally balanced meals with a range of products, including powders, ready‑to‑drink shakes, hot and savoury meals, nutrition bars, ‘supergreens’ and functional beverages.
Built on a science‑driven formulation approach, Huel products are designed to provide essential macronutrients and micronutrients in convenient, plant‑based formats to customers through a predominately D2C model.
Huel already has a strong presence in the US and Europe – including the UK. By combining this with Danone’s scale, capabilities and own global reach, the duo hope to accelerate growth, innovation and international expansion.
Strategic step in Renew Danone plan
The purchase follows the food and drink giant’s Renew Danone strategy – a plan outlined by its leadership team in 2022 which has seen the business action three notable ‘resets’ – cultural, executional, and financial and business model.
The next chapter of this strategy, which was set out at Danone’s Capital Market Event in June 2024, is looking to build on the fundamentals reestablished over the last two years and project Danone into the future of health and nutrition.
The business operates in three health-focused categories: ‘essential’ dairy and plant-based products, waters, and specialised nutrition.
Danone says it will ‘project itself’ into the future of health and nutrition by gradually pivoting the way it addresses its categories – notably protein and gut health. This plan also includes broadening some of its business models, accelerating in ‘away-from-home’ and medical nutrition; and expanding its geographic footprint.
Leaders welcome the deal
“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,” commented Antoine de Saint-Affrique, Danone SA chief executive officer.
“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.”
James McMaster, Huel’s chief executive officer, added: “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 transaction remains subject to customary closing conditions, including regulatory approvals.
Danone employs around 90,000 people, with products sold in over 120 markets. In 2025 it generated €27.3 billion in sales. Its portfolio comprises a range of international brands including Actimel, Activia, Alpro, Aptamil, Evian, and Volvic, among others.
