Audio By Carbonatix
The British meal supplement maker Huel is being bought by Danone for €1bn (£864m).
Founded in Buckinghamshire in 2014, Huel is best known for its shake powder, which it says is a nutritionally complete replacement for a regular meal. Its investors include actor Idris Elba and broadcaster Jonathan Ross.
It has since expanded its range to include ready meals, nutrition bars, and health drinks, all of which are plant-based.
The company has previously got into hot water with the UK advertising watchdog, which has banned some of its adverts for making "misleading" claims.
One such advert made misleading claims about the cost savings of replacing a normal diet with meal-replacement shakes, the watchdog said.
Huel (a portmanteau of "human" and "fuel") products are sold mostly direct to consumers, with some sales through shops and supermarkets, but it said the Danone deal would allow it to expand into new markets.
The market for so-called complete nutrition products, aimed at time-poor, health-conscious consumers, is estimated at $5.9bn (£4.4bn).
Some experts have questioned the effectiveness, however, of replacing meals with nutritionally rich drinks.
The deal is subject to closing conditions, including regulatory approval.
Danone noted that Huel already has a "fan base" in the UK, Europe and the US.
"Huel's mission to make nutritionally complete, convenient, sustainable food aligns closely with Danone's purpose of bringing health through food to as many people as possible," the company said.
Danone chief executive Antoine de Saint-Affrique said the British company had "best in class digital capabilities".
James McMaster, Huel's chief executive, said: "Most people don't get enough protein, fibre, or the right nutrients. That's the problem Huel exists to solve.
"With Danone, we will now have the infrastructure, distribution and R&D (research and development) capability to go further, into new markets and to more people."
Danone is best known for its yoghurt drinks – in addition to its Danone-branded drinks, it also owns Actimel, Activia and Alpro.
Earlier this year, Danone recalled 14 batches of its baby formula and follow-on milk, from the Aptamil and Cow and Gate brands, over fears they were contaminated with toxins.
Its other brands include mineral water Evian and Volvic.
Latest Stories
-
Amazon raises minimum hourly pay by $1 to $20 for US operations workers
4 minutes -
Insurance cost has largely remained stable – NPA boss on transport fare pressure
15 minutes -
Multiple unions threaten strikes at Barrick’s flagship Mali gold mine, documents show
34 minutes -
Infantino invited to African summit as he faces challenge to FIFA leadership
45 minutes -
NPA boss flags ‘recalcitrant’ transport operators raising fares arbitrarily
53 minutes -
GPRTU fare hike put on ice after talks with government – NPA boss reveals
1 hour -
I’m greatly worried – NPA boss on threat of higher transport fares
2 hours -
We are largely import-dependent – NPA boss on Ghana’s fuel vulnerability
2 hours -
Ghana’s fuel market is built for turbulence – NPA’s Edudzi Tamakloe explains why
2 hours -
Postponement not an option as Kenya races to be ready for Afcon 2027
2 hours -
ICE agent shoots and wounds man in Texas as locals demand answers
3 hours -
Ed Sheeran admits ‘mistakes’ at first show since Macklemore controversy
3 hours -
We are ready for the turbulence – NPA boss on Ghana’s fuel crisis
4 hours -
Lady I wanted serious relationship with said she’s not ready – Rema
4 hours -
I’ll never discuss my finances with man, even if he’s my husband – Nancy Isime
4 hours