Danone €1bn takeover of Huel approved by watchdog
HuelDanone'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.
Advertising Standards AuthorityDanone 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.
Danone said the company welcomed the CMAs approval of the proposed acquisition, which marked an important milestone.
A spokesperson said: With our mission to bring health through food to as many people as possible, and our long-standing heritage in functional nutrition, Huel's expertise in complete nutrition is set to be a strong complement to our portfolio. "The transaction remains subject to final completion."
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