Danone €1bn takeover of Huel approved by watchdog

Danone's takeover of the British meal supplement maker Huel has been cleared by the competition watchdog.

The Competition and Markets Authority (CMA) has given the €1bn (£864m) deal the green light following a review.

Huel, based in Hertfordshire, was founded by Julian Hearn in 2015 to provide nutritionally complete food products, aimed at reducing meal times and providing essential nutrients.

The French food and drink firm said the acquisition will help it grow in the nutrition sector, while for Huel it will help the brand's growth ambitions and drive its international expansion.

Danone agreed to buy Huel in March.

The company owns a portfolio of products in the UK, including baby milk brands Aptamil and Cow & Gate, yoghurt brands Activia and Actimel, and water brands Evian and Volvic.

The Huel brand has seen rapid growth over the years, expanding its range to include ready meals, nutrition bars, and health drinks, all of which are plant-based.

Dragons' Den star and podcaster Steven Bartlett was previously a director of the nutrition brand.

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 associated with replacing a normal diet with meal replacement shakes, the watchdog said.

The CMA gave interested parties the opportunity to comment on the deal over potential concerns about whether it could lessen competition in the market.

The regulator's decision to clear the merger means it is satisfied it can go ahead in its current form.

Danone and Huel have been approached for comment.

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Competition and Markets Authority