Danone Buys Meal Supplement Maker Huel for €1 Billion

The British meal supplement maker Huel is being bought by Danone for a reported €1 billion (£864 million).

Huel said the Danone deal will allow it to expand into new markets. (Photo; Danone)

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, Emer Moreau reported for BBC News.

It has since expanded its range to include ready meals, nutrition bars, and health drinks, all of which are plant-based.

The company has previously gotten into trouble with the UK advertising watchdog, which has banned its advertisements for making “misleading” claims.

One such ad made misleading claims about the cost savings associated with replacing a normal diet with meal replacement shakes, the watchdog said.

Huel (a portmanteau of “human” and “fuel”) products are mostly sold direct-to-consumer, with some sales through shops and supermarkets, but the company said the Danone deal will allow it to expand into new markets.

The market for so-called complete nutrition products, aimed at time-poor, health-conscious consumers, is thought to be worth $5.9 billion (£4.4 billion).