Huel bought by Danone in €1bn deal
Huel is being bought by Danone for €1bn (£864m). Huel was founded in Buckinghamshire in 2014. Huel is best known for its shake powder, which it says is a nutritionally complete replacement for a regular meal. Its investors include actor Idris Elba and broadcaster Jonathan Ross.
Huel has expanded its range to include ready meals, nutrition bars, and health drinks, all of which are plant-based. The company has previously got into hot water with the UK advertising watchdog, which has banned some of its adverts for making "misleading" claims. Huel products are sold mostly direct to consumers, with some sales through shops and supermarkets. The market for so-called complete nutrition products is estimated at $5.9bn (£4.4bn). Danone noted that Huel already has a "fan base" in the UK, Europe and the US. Danone chief executive Antoine de Saint-Affrique said the British company had "best in class digital capabilities". James McMaster, Huel's chief executive, said: "Most people don't get enough protein, fibre, or the right nutrients. That's the problem Huel exists to solve."
The deal is subject to closing conditions, including regulatory approval. James McMaster said: "With Danone, we will now have the infrastructure, distribution and R&D (research and development) capability to go further, into new markets and to more people."
Quick Summary
Danone, the multinational food company, is set to acquire Huel, the British meal supplement maker. The deal promises significant changes for the nutrition market - but what could this mean for consumers?
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