Danone buys Huel
Danone struck a definitive deal to acquire Huel, adding a direct‑to‑consumer, protein‑rich meal replacement brand to its “Renew” playbook—boosting digital channels and health‑focused SKU exposure. The move accelerates Danone’s push into functional nutrition and gives it a younger, health‑conscious customer base across the UK, Europe and the US. (foodnavigator.com)
Danone’s announcement did not disclose a price, but Reuters and multiple market reports say the group is paying roughly €1.0bn (about $1.15–1.2bn) for Huel. (msn.com) Huel reported FY24 revenue of £214m for the 12 months to July 31, 2024, with pre-tax profit jumping to £13.8m as retail distribution expanded sharply during that period. (just-food.com) Company filings and public comments show Huel scaled retail listings from about 11,250 stores to roughly 25,650 stores in the latest year while still identifying its website/subscription business as the majority revenue channel. (discourse.huel.com) A market source quoted by Morningstar estimated Huel’s FY25 revenue could top £250m and suggested an adjusted EBITDA margin near 10%, up from roughly 8.5% the prior year. (morningstar.com) Danone reported FY2024 sales of €27.4bn and record free cash flow of €3.0bn, figures the company flagged last year as enabling a more acquisitive posture. (danone.com) The Huel transaction is being handled legally by Pinsent Masons for the sellers, who advised founder Julian Hearn, lead investor Highland Europe and the senior management team on the deal. (pinsentmasons.com) Danone’s press release notes the transaction remains subject to customary closing conditions, including regulatory approvals, and comes after Danone’s July 2025 acquisition of Kate Farms as part of the group’s targeted expansions in nutrition. (danone.com)
