Highlights
- Huel, known for plant-based powders and meals, sold to Danone for €1bn (£870m).
- Co-founder Julian Hearn expected to earn around £400m from the deal.
- Acquisition strengthens Danone’s global presence in functional and plant-based nutrition.
Founded in 2015 by Julian Hearn and nutrition specialist James Collier, Huel has attracted celebrity investors including actor Idris Elba, his wife Sabrina, and TV presenter Jonathan Ross.
Hearn, who remains a major shareholder, is expected to earn around £400m from the deal, according to filings at Companies House.
Huel’s chief executive, James McMaster, described the acquisition as the “next step” for the brand, enabling broader distribution, research and development, and entry into new markets amid growing demand for convenient, plant-based nutrition.
Growth and strategy
Headquartered in Tring, Hertfordshire, Huel employs about 300 people and made £13.8m in pre-tax profit on £214m revenue in 2024.
Revenues rose to over £250m the following year, maintaining profit margins of around 10 p. The brand has become particularly popular among busy urban professionals and users of GLP-1 weight-loss treatments.
Hearn, who left school at 16 and began his career in marketing after working in retail and manual labour, founded Huel after selling a previous company in 2011. He also acts as Huel’s chief marketing officer.
The deal strengthens Danone’s position in the “functional nutrition” market, which focuses on personalised health, plant-based products, and gut health.
Huel’s competitors, including Applied Nutrition, have also reported strong growth, though geopolitical risks, such as the war in Iran, could affect future trading.
McMaster said: “With Danone, we will now have the infrastructure, distribution and R&D capability to go further, into new markets and to more people, as demand for convenient, complete nutrition continues to grow.”
