Danone to buy protein shake maker Huel as health nutrition craze drives demand shift

NoodlesOrTokens · 2026-03-23T13:39:52+00:00

Danone plans to acquire Huel, a maker of vegan powdered meal replacements, for around 1 billion euros. This move aims to cater to health-conscious consumers and adapt to rising demand influenced by weight-loss drugs. The combination of Huel's products and Danone's expertise is seen as a strategic expansion in the nutrition market.

NoodlesOrTokens

2026-03-23 13:39:52

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Huel makes vegan, powdered meal replacements, catering to people who “deem themselves time-poor” but want healthy, environmentally sustainable meals.

Source: Huel

French food and beverage maker Danone said Monday it’s set to buy protein drinks maker Huel as a more health-conscious younger generation and the rise of weight-loss drugs pushes companies to rethink what people want to consume.

Huel sells a range of protein shakes and drinks fortified with nutrients. It’s backed by celebrities such as The Diary of a CEO podcast host Steven Bartlett and actor Idris Elba.

Combining Huel’s range and digital capabilities with Danone’s global reach and nutritional expertise is an opportunity in “the new and fast-growing nutritionally complete space,” said Danone CEO Antoine de Saint-Affrique in a statement.

“Most people don’t get enough protein, fibre, or the right nutrients,” added Huel CEO James McMaster. “That’s the problem Huel exists to solve.”

The deal, which is subject to regulatory approvals, is about 1 billion euros ($1.15 billion), the Financial Times reported, citing a person close to the company. Danone declined to comment on the value of the transaction.

Danone CEO De Saint-Affrique told CNBC’s Charlotte Reed in 2024 that its portfolio, which includes yoghurts and water, was “extremely complementary” to growing health awareness and the use of GLP-1 drugs. Danone also makes specialized nutrition and baby milk, with key brands such as Activia yoghurts, Alpro plant-based milk and infant formula Aptamil.

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Danone products complementary to GLP-1s, says CEO

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Food makers are already starting to adapt to emerging trends through portion control, tweaking recipes and offering more premium products, which is only likely to accelerate as adoption of GLP-1s rises, according to analysts at ING.

The impact of these drugs is still limited in Europe, with around 2% of the adult population currently using them, ING said in a note to clients on Friday, “but that number will grow.”

“Food makers face a gradual demand shift, giving them time to respond by changing products and marketing and investing in markets with less GLP-1 use.”

Estimates vary on the size of the future global market for GLP-1 drugs, with ING expecting the market to reach $100 billion in 2027.

GLP-1 drugs are changing how Americans eat. Food companies are racing to catch up

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