Huel, the UK-based nutrition startup known for its plant-based meal replacements, has been acquired by French food giant Danone in a deal reportedly worth around €1 billion, marking a new chapter for the company as it looks to accelerate international expansion and scale its operations further.
Founded in 2015, Huel has grown from a direct-to-consumer brand selling powdered meals online into a global omnichannel business. Its product portfolio now includes ready-to-drink meals, snack bars, hot meals, vitamin drinks, and greens products, distributed across tens of thousands of retail locations. The company has also invested in its own manufacturing capabilities, reflecting its evolution into a fully integrated nutrition brand.
Huel’s CEO, James McMaster, highlighted the shared mission between Huel and Danone: “We share a common mission with Danone. As B Corps, both companies are focused on delivering convenient, nutritionally complete products with a lower environmental footprint. With Danone’s infrastructure and global distribution network, we will be able to reach new markets, scale more efficiently, and maintain momentum behind our mission.”
Huel’s growth trajectory has been significant. When McMaster joined the company nearly nine years ago, the goal was to build an internationally recognised brand generating over £100 million in revenue. That milestone has since been surpassed, with the company reporting £214 million in revenue for the year ending July 2024 and estimated to exceed £250 million for fiscal 2025, according to reporting by The Wall Street Journal.
The acquisition reflects broader momentum in the functional nutrition space. Demand for products offering specific health benefits continues to rise, with UK purchases of functional drinks increasing by 13% year-on-year, according to Worldpanel data cited in the report. These products command premium pricing, highlighting the growing consumer willingness to invest in health-focused nutrition.
For Danone, the deal strengthens its position in the fast-growing plant-based and protein segments, complementing a portfolio that includes brands such as Activia and Evian. Huel’s strong digital presence and direct-to-consumer model were key factors behind the acquisition, alongside its established footprint across the UK, Europe, and the US.
Despite the acquisition, Huel will continue to operate under its existing brand, with Wright remaining CEO. He described this next phase as an opportunity to “fulfil its potential,” building on a team that has grown from around 20 employees to over 350, and a customer base that has played a central role in shaping the company’s product development and innovation.
Huel’s last funding round in 2022 valued the company at €483 million ($560 million), making this acquisition a significant step up in valuation and a strong signal of confidence in the category’s future. Investors in previous rounds included Highland Europe, Idris Elba, Jonathan Ross, and entrepreneur Steven Bartlett.
Read the orginal article: https://www.eu-startups.com/2026/03/london-based-huel-joins-danone-in-a-e1-billion-deal-to-scale-plant-based-nutrition-globally/
