Profits at Huel soared by 40% as the meal replacement brand continued to supercharge growth ahead of its €1bn takeover offer from Danone.
Revenues increased 19% to £254m in Huel’s tenth year of trading as it boosted the product offering, expanded into new categories and gained new distribution in the UK and overseas.
Pre-tax profits totalled £19.4m in the year to 31 July 2025 thanks to the bulkier top line and expanding margins, newly filed accounts revealed.
Huel’s rapid ascent in just 10 years was capped by the company’s acquisition by French multinational Danone for €1bn last month. The deal scored founder Julian Hearn, who still owned the majority of the business, with a bumper payday.
Read more: Why pricey Huel will be worth the money for new owner Danone
“Overall, it’s been another energising year for Huel, one made even more special as we celebrate a decade since Huel was founded and in which we’ve surpassed 500 million meals sold,” said CEO James McMaster, who took sales from just over £20m when he joined in late 2017 to today’s levels.
“We’re expanding globally, delighting customers, building a brilliant team, and doing it all with purpose.”
The UK remained Huel’s fastest-growing single market as sales rose 26.5% to £139.3m.
DTC remained at the heart of the company, but it has rapidly scaled its retail presence since launching ready-to-drink meals in Sainsbury’s in 2019.
Huel is now available in more than 17,000 stores in the UK, with in excess of 100,000 stocking points. Retail sales value shot up 42% to £95.4m in the 52 weeks to 22 February [NIQ].
Turnover in the US increased 12.4% to £75.5m in FY25 as the brand expanded into national retailers such as GNC, Whole Foods Market and Sprouts Farmers Market, with more listings to follow.
Growth was slower in Europe, up just 2.3% to £31.6m, and the rest of the world brought in £7.3m, compared with £5.7m in the previous year.
Huel attributed part of its success in FY25 to a relaunch of its website in the prior year, which transformed the customer experience to better showcase its increasing range and simplify purchasing. It also launched its first customer loyalty programme.
Its new factory in Milton Keynes, opened in 2024, also scaled up production in FY25 to make a significant proportion of the UK and EU volumes. But the business took a one-off exceptional hit of £1.3m to bring the factory online.
Bringing manufacturing in-house contributed to better operational efficiencies and improved margins as Huel started to see the benefits of increasing economies of scale.
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