Sports nutrition brand Huel has been acquired by food giant Danone in a deal worth €1 billion.
Founded by Julian Hearn (pictured) in 2015, Huel’s products are made from plant-based ingredients such as oats, peas, rice, flaxseed, coconut and sunflower.
Claiming to be backed by science, Huel – which gets its name from the combination of Human + Fuel – are available in a range of products including powder, hot & savoury (such as noodles), ready-to-drink and bars.
Paris-based Danone said the deal for Huel, headquartered in Tring, Hertfordshire, was 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,” it said.
Dragons’ Den star and Diary of a CEO host Steven Bartlett hailed the firm as a “Great British success story” on LinkedIn and said he had shared a phone call with Hearn this morning.
In 2024 Bartlett came under fire after he promoted Huel on Facebook without disclosing that he was a director at the firm. In two ads subsequently banned by the Advertising Standards Authority, Bartlett was shown drinking a supplement beverage and claiming it was the best product released by the company to that date.
Bartlett then stepped down as a director of Huel last year.
“what a ride! had a beautiful, emotional & reflective call with Huel’s founder Julian Hearn this morning as the news broke!” he wrote today.
“This company changed my life in so many ways… as a customer, an investor, a board member and as a partner.
“And it serves as a great reminder that successful category defining companies can come out the UK AND can come outside of London!
“This company beat all the odds – a great British success story! ❤️👊🏾
“So happy for all the team!”
Danone said Huel 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,” it added.
The transaction remains subject to customary closing conditions, including regulatory approvals.
James McMaster, CEO at Huel, said: “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.”