Huel, the UK-based meal replacement company founded in 2014, is set to be acquired by French food group Danone in a deal reportedly valued at around $1.2 billion, marking a significant milestone for the fast-growing nutrition brand.
Danone said it has entered into a definitive agreement to acquire Huel, positioning the startup’s direct-to-consumer model and product portfolio alongside its own global distribution network and research capabilities.
The acquisition caps a decade of rapid expansion for Huel, which began as an online-first business selling powdered meal shakes designed for convenience. Since launching in the UK in 2015, the British company has broadened its product range to include ready-to-drink products and snacks, while expanding into international markets.
That growth has translated into scale, with Huel reporting revenues of £214 million in 2024, up 16% year-on-year. Over time, Huel has moved beyond its direct-to-consumer origins into retail, with products now available in more than 25,000 stores worldwide.
A decade of growth behind Huel’s $1 billion deal
Founded by entrepreneur Julian Hearn and nutritionist James Collier, Huel built its brand around the concept of nutritionally complete and convenient food aimed at busy consumers. The duo combined Hearn’s consumer-brand and growth background with Collier’s focus on formulation and nutrition.
For Danone, the deal represents a strategic move into the growing market for functional nutrition, with products positioned around health benefits, high protein content, and convenience. The French food group said Huel’s position in the “complete nutrition” category aligns with its broader focus on health-oriented food and beverage offerings.
The transaction also delivers a return for Huel’s investors. According to reports, celebrity backers including Idris Elba and Jonathan Ross are among those set to benefit, alongside the founders. Hearn, who retains a significant stake, is expected to receive proceeds worth hundreds of millions.
For the founders, Huel’s arc has been about normalizing a polarizing product. They started online, listened obsessively, widened their offering, and pushed the brand beyond early adopters into the mainstream. By the time Danone arrived, Huel was a scaled, digitally native brand worth an investment valued at over $1 billion.
Steven Bartlett is an investor in both Founded and Huel
