Danone has entered into a definitive agreement to acquire Huel, a brand operating in complete, nutritionally balanced meal solutions.

In line with its Renew Danone strategy, the acquisition will enhance Danone’s presence in functional nutrition and extend its portfolio into the fast-growing Complete Nutrition space. Huel’s complementary range, spanning various food forms including ready-to-drink and powders, is supported by best-in-class digital execution, strong digital direct-to-consumer sales and a fan-base in the UK, Europe and the US.

Combining Huel with Danone’s scale, capabilities and global reach will accelerate growth, innovation and international expansion. 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.

The transaction remains subject to customary closing conditions, including regulatory approvals. 

"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," Antoine de Saint-Affrique, chief executive officer of Danone SA, said in a statement. "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."

"We are so excited to be joining Danone, and today marks the next step for Huel. We've spent 10 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." James McMaster, chief executive officer of Huel, said in a statement. "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.