Danone has agreed to acquire British meal replacement and functional nutrition brand Huel in a deal worth approximately €1bn (£870m).
The acquisition marks one of the most significant transactions in the complete nutrition sector to date.
The French food and beverage group, whose portfolio includes Activia yoghurt, Evian water, Alpro plant-based milk and infant formula Aptamil, confirmed the acquisition in a statement today, describing Huel as a "great brand and smack on where the consumer is going."
The deal is subject to regulatory approval.
Founded in 2015 by Julian Hearn and nutritionist James Collier, Huel produces a range of plant-based, nutritionally complete food products, including powders, ready-to-drink protein shakes and snack bars, fortified with vitamins and minerals.
The brand now operates across more than 25,000 retail locations worldwide and will report revenues exceeding £250m for 2025, up from £214m the previous year.
Hearn is expected to net approximately £400m from the sale. High-profile investors, including actor Idris Elba and his wife Sabrina, TV presenter Jonathan Ross and entrepreneur Steven Bartlett, have also backed the business and are likely to receive significant payouts.
For Danone, the acquisition directly supports its "Renew Danone" strategy, which centres on expanding the company's presence in functional and specialised nutrition.
The deal follows recent purchases of US-based organic medical nutrition company Kate Farms and Belgian microbiome biotech the Akkermansia Company, signalling a concerted push into evidence-based, health-driven food categories.
Danone CEO Antoine de Saint-Affrique cited the growing convergence of health-conscious eating, personalised nutrition and the rapid uptake of GLP-1 weight-loss drugs as key drivers behind the deal.
Huel CEO James McMaster has confirmed that low-calorie, high-protein products suited to GLP-1 users are now central to the company's product strategy, noting that young consumers today spend half as much time preparing food as their predecessors did.
McMaster will remain at the helm of Huel, running it as an autonomous business reporting into Danone's European division. The company's direct-to-consumer digital model is expected to complement Danone's global distribution infrastructure and R&D capabilities, enabling entry into new international markets.
Huel has previously faced scrutiny around its ultra-processed food (UPF) classification, a debate it has addressed by arguing that not all UPFs are inherently harmful.
The brand's positioning at the intersection of convenience, sustainability and complete nutrition, however, continues to resonate strongly with its core fitness-focused, time-poor professional demographic.
The news shows the global functional nutrition market continues to attract major investment as established consumer goods players look to reposition their portfolios ahead of structural shifts in food consumption driven by health awareness, longevity science and pharmacological weight management.