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Last updated : 15/09/2026 - 17h35
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Danone Completes Acquisition of Huel, Global Leader in Complete Meals

Danone has signed a definitive agreement to acquire Huel, the global leader in nutritionally balanced complete meals. This move allows the French group to expand its portfolio in the rapidly growing category of nutritionally complete food.


Danone Completes Acquisition of Huel, Global Leader in Complete Meals

Strengthening Renew Strategy with Huel Acquisition

Danone enhances its Renew strategy through the acquisition of Huel, a leading player in complete meal solutions. Huel offers a wide range of products including powders, ready-to-drink beverages, Hot & Savory meals, nutritional bars, supergreens, and functional drinks. The company operates a cutting-edge direct-to-consumer online sales model, supported by a loyal customer community in the UK, Europe, and the United States.

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The integration of Huel with Danone's expertise and international presence aims to accelerate growth, innovation, and global expansion. Founded on a scientific approach to formulation, Huel provides essential macronutrients and micronutrients in convenient, plant-based formats. Danone operates in over 120 countries, employs nearly 90,000 people, and reported a revenue of 27.3 billion euros in 2025. Antoine de Saint Affrique, CEO of Danone, emphasizes that this acquisition opens opportunities in the booming world of complete nutrition, aligning with the Renew strategy.

Aligned Missions in Offering Complete, Convenient, and Sustainable Nutrition

Huel's mission to offer nutritionally complete, convenient, and sustainable foods aligns directly with Danone's purpose: to bring health through food to as many people as possible. James McMaster, CEO of Huel, states that the company now has the infrastructure, distribution capabilities, and research and development resources needed to reach new markets and a broader audience. Over the past decade, Huel has built a positively impactful brand, with an omnichannel model based on strong direct-to-consumer sales activity and rapidly growing retail presence.



Sector Agroalimentaire et boissons Industrie alimentaire


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Context

Period
  • Period: S1 2026
Key reported figures
  • Revenue: 13 936 millions d'euros
  • Quarterly revenue: 13 936 millions d'euros
  • Revenue growth: 1,4 %
  • Net income: 1 175 millions d'euros
  • Free cash flow: 852 millions d'euros
  • 8 975 millions d'euros
Guidance from the release
  • Objectifs 2026 confirmés, en ligne avec l'ambition moyen-terme
Risks mentioned
  • Free cash-flow en baisse de -27,3 % à 852 M€ au S1 2026
  • Dette nette en hausse à 9,0 Md€ contre 8,4 Md€ fin décembre 2025
  • Effet de change négatif de -3,3 % sur le chiffre d'affaires publié
Opportunities identified
  • Objectifs 2026 confirmés : croissance comparable entre +3 % et +5 %
  • Finalisation attendue au S2 2026 des acquisitions MADE Group et Saputo Dairy Australia
  • Marge des Eaux en forte progression de +196 pb à 13,3 %
Outlook / guidance
  • Expected revenue: 28 374 millions d'euros
  • Management commentary: croissance du chiffre d'affaires en données comparables comprise entre +3% et +5%

The information presented in this article is provided for informational purposes only and does not constitute an investment recommendation, an incentive to buy or sell a financial asset, or investment advice. Readers are invited to conduct their own research before making any decision.

Investments in the stock market involve risks, including the risk of capital loss. Past performance of an asset or market is no guarantee of future results. Any investment decision should be made taking into account your personal financial situation, objectives and risk tolerance.

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