Finance
Danone to Acquire Protein Products Maker Huel
Published by Global Banking & Finance Review®
Posted on March 23, 2026
2 min readLast updated: March 23, 2026
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Danone has signed a definitive agreement to acquire Huel, a British maker of high‑protein powder, ready‑to‑drink meals and snacks, enhancing its reach in functional and complete nutrition; Huel generated £214 million ($284 million) in 2024 revenue.
Danone to buy protein products maker Huel for close to $1.15 billion, sources say
Danone’s Strategic Acquisition of Huel
By Mathieu Rosemain
March 23 (Reuters) - Danone has agreed to acquire Huel for close to 1 billion euros ($1.15 billion), two sources close to the matter said on Monday, as the French food group expands further into health-focused nutrition.
Details of the Acquisition
Danone said earlier it had entered into a definitive agreement to buy the British maker of products ranging from powdered and ready-to-drink meals to high-protein snacks.
The Paris-based company said it would combine Huel's range and digital capabilities with its global reach and nutritional expertise.
Strategic Fit and Growth Plans
Huel’s positioning “fully resonates” with the group’s focus on health through food, as it seeks to build scale in higher-growth categories, Chief Executive Antoine de Saint-Affrique said.
Huel’s Business Model and Expansion
Founded in 2014, Huel sells plant-based meal replacements marketed as nutritionally complete, targeting time-poor and health-conscious consumers through a direct-to-consumer model as its retail presence grows in Europe and the United States.
The deal will allow the brand to expand into new markets using Danone's infrastructure, distribution and research and development capabilities, Huel CEO James McMaster said.
Market Context and Financials
The market for complete nutrition products was estimated to be worth $5.9 billion in 2025, according to Future Market Insights, and projected to have a CAGR of 6.5% over the next 10 years.
Danone and Huel Financial Overview
Danone is one of the world’s largest food companies, with operations spanning dairy and plant-based products, bottled water and specialised nutrition, and more than 27 billion euros in annual sales.
By comparison, Huel generated 214 million pounds ($284 million) in revenue in 2024, according to its website.
Additional Information
Danone declined to comment on Huel's price tag.
($1 = 0.7524 pounds)
($1 = 0.8683 euros)
(Reporting by Mathieu Rosemain in Paris and Mathias de Rozario in Gdansk; Additional reporting by Dominique Patton; Editing by Milla Nissi-Prussak and Clarence Fernandez)
Key Takeaways
- •Danone deepens its foothold in functional and complete‑nutrition by acquiring Huel, combining Huel’s digital capabilities with Danone’s global infrastructure.
- •Huel’s strong 2024 performance (over £200 million in revenue, tripled profits) underscores its fast‑growing appeal in plant‑based nutrition. Huel also holds B Corp cert. (en.wikipedia.org)
- •This acquisition follows Danone’s recent strategic bolstering of specialized nutrition—after acquisitions of Functional Formularies and Kate Farms—highlighting a broader push into medical, gut‑health, and complete meal segments. (globenewswire.com)
References
Frequently Asked Questions about Danone to acquire protein products maker Huel
1What company is Danone acquiring?
Danone is acquiring Huel, a British company specializing in protein products and complete nutrition.
2What types of products does Huel offer?
Huel offers products ranging from powder and ready-to-drink meals to high-protein snacks.
3How much revenue did Huel generate in 2024?
Huel generated 214 million pounds ($284 million) in revenue in 2024.
4Why is Danone acquiring Huel?
The acquisition will boost Danone’s presence in functional nutrition and expand its portfolio into the complete nutrition market.
5How will Huel benefit from the deal with Danone?
Huel will expand into new markets and accelerate growth by leveraging Danone's global infrastructure and expertise.
