Huel, the British protein shake maker backed by actor Idris Elba, has been acquired by French consumer goods group Danone in a deal worth approximately €1bn (£870m). The company, known for its plant-based food powders, snack bars, and meals, started online and is now available in over 25,000 stores worldwide.
Co-founder Julian Hearn is set to make around £400m from the sale, according to Companies House filings. Hearn, who left school at 16, founded Huel in 2015 with nutrition specialist James Collier and remains a major shareholder. Idris Elba and his wife Sabrina, along with former backer Jonathan Ross, are also investors, though their stakes and potential payouts have not been disclosed.
Huel CEO James McMaster described the deal as the “next step” for the company, adding: “With Danone, we will now have the infrastructure, distribution and R&D capability to go further, into new markets and to more people.” The acquisition is part of Danone’s push into the functional nutrition market, driven by demand for personalised nutrition and gut health products.
Huel, headquartered in Tring, Hertfordshire, employs about 300 people and has grown popular among time-poor professionals and users of GLP-1 weight-loss drugs. It reported pre-tax profit of £13.8m on revenues of £214m in 2024, with revenues rising to over £250m the following year and profit margins of about 10%.
Hearn, who also serves as chief marketing officer, previously sold his first venture, Mash Up Media, in 2011. He said he “could have retired” at 40 but instead pivoted to the health industry. Separately, competitor Applied Nutrition reported a 50% rise in sales and pre-tax profit for the six months to January, but its shares fell after warning of potential disruption from the war in Iran.
