Danone Set to Acquire Huel for Around $1.15 Billion: Sources

• The complete nutrition products market was valued at $5.9 billion in 2025 and is projected to grow at 6.5% CAGR over the next decade
• Huel's revenue of $284 million in 2024 represents a small but strategic addition to Danone's portfolio of over $27 billion in annual sales
• The acquisition will enable Huel to expand into new markets using Danone's distribution network and R&D capabilities while targeting health-conscious consumers in Europe and the U.S.

Summary: Danone Acquires Huel for $1.15 Billion

Key Transaction Details:

French food giant Danone has agreed to acquire British plant-based nutrition company Huel for approximately €1 billion ($1.15 billion), according to sources. The definitive agreement was announced March 23.

Companies Involved:

• Danone: Global food company with over €27 billion in annual sales, operating across dairy, plant-based products, bottled water, and specialized nutrition
• Huel: Founded in 2014, the UK-based company generated £214 million ($284 million) in revenue in 2024, selling plant-based meal replacements including powders, ready-to-drink products, and high-protein snacks

Strategic Rationale:

Danone CEO Antoine de Saint-Affrique stated the acquisition aligns with the company's focus on health through food and building scale in higher-growth categories. The deal combines Huel's direct-to-consumer digital capabilities with Danone's global distribution network, R&D expertise, and infrastructure. Huel will gain access to new markets through Danone's international presence.

Market Context:

The complete nutrition products market was valued at $5.9 billion in 2025, with projected compound annual growth rate (CAGR) of 6.5% over the next decade, according to Future Market Insights. Huel targets health-conscious, time-constrained consumers primarily through direct sales, with growing retail presence in Europe and the United States.

Market Implications:

This acquisition demonstrates continued consolidation in the health-focused nutrition sector as major food companies seek exposure to faster-growing, premium categories amid shifting consumer preferences toward plant-based and functional foods.