The CMA has asked the market its views on Danone’s €1bn (£870m) acquisition of meal replacement drinks brand Huel.
The invitation to comment will last until 10 June, and precedes the opening of a formal phase one investigation into the merger.
Agreed in March 2026, Danone’s acquisition would bring Huel’s range of ready-to-drink meal replacement shakes and powders into Danone’s portfolio alongside what the French giant called “best‑in‑class digital execution, strong digital direct-to-consumer sales and a fanbase in the UK, Europe and the US”.
Danone has focused on strengthening its nutrition and health proposition in recent years, and the Danone acquisition is set to offer the group meaningful cost synergies in ingredients such as whey protein. The group’s brands include Activia, Oykos, Alpro and infant formula brands Aptamil and Cow & Gate.
Huel’s most recent accounts showed revenues soared 19% to £254m in the year to 31 July 2025, the company’s 10th year of trading. Pre-tax profits were up to £19.4m.
Huel is now available in more than 17,000 stores in the UK, with in excess of 100,000 stocking points and £139.3m in sales. But the company has enjoyed strong growth in the US market, where turnover was up 12.4% to £75.5m last year.
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