Danone has entered into a definitive agreement to acquire Huel for $1bn (£864m).
The acquisition aims to enhance Danone’s presence in functional nutrition and extend its portfolio into the fast-growing complete nutrition space. Combining Huel with Danone’s scale, capabilities and global reach will accelerate growth, innovation and international expansion, according to the suppliers.
Read more: Huel reports record sales in the wholesale channel
Antoine de Saint-Affrique, chief executive officer Danone SA, said: “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. 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.”
Meanwhile, 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.
