Danone Huel CMA review: overview
- Danone planned €1bn acquisition of Huel faces CMA review process
- Regulator seeks market views before deciding whether to investigate formally
- Deal aims to strengthen Danone presence in functional nutrition and growth categories
- Outcome could mean approval, conditional remedies, delays or deeper Phase investigation
- Signals tougher scrutiny of Big Food acquiring fast-growing health brands
Danone’s planned purchase of British food and drinks brand Huel has been placed under review by the UK’s Competition and Markets Authority (CMA).
The CMA, a department of the British Government, has invited market views on Danone’s planned €1bn (£870m) acquisition of Huel. This consultation precedes a formal investigation into the merger, which would enhance Danone’s nutrition and health offerings.
“The CMA is issuing this ‘invitation to comment’ to allow interested parties to submit to the CMA any initial views on the impact that the transaction could have on competition in the UK,” said the CMA on its site. “The CMA has not yet launched its formal investigation into this transaction. This invitation to comment is the first part of the CMA’s information-gathering process.”
The deadline for submitting responses to the invitation to comment is 5pm BST on 10 June 2026.
Danone’s planned Huel acquisition
The French multinational announced plans to buy Huel back in March, saying it was in line with its Renew Danone strategy.
And there was clearly much enthusiasm on both sides, with Danone CEO Antoine de Saint-Affrique saying the company is “delighted to welcome Huel”.
“We are so excited to be joining Danone,” added Huel CEO James McMaster.
Danone made clear from the outset that the acquisition is aimed at enhancing its presence in functional nutrition and extending its portfolio into the fast-growing Complete Nutrition space.
“Combining Huel with Danone’s scale, capabilities and global reach will accelerate growth, innovation and international expansion,” said a spokesperson for Danone.
It’s likely this emphasis on scale that drew the attention of the CMA, which is responsible for protecting competition in the United Kingdom.
In response to the CMA’s announcement, Danone made the following statement:
“The transaction is subject to customary closing conditions, including regulatory approvals, and is expected to be completed in the second half of 2026.”
Huel has yet to respond to request for comment.
Will the acquisition go ahead?
What happens next will determine whether the deal proceeds unimpeded or faces conditions, delays or even a deeper Phase 2 investigation.
While the CMA’s invitation to comment is a standard first step, it signals that the regulator will want to understand how Danone’s scale could affect competition in categories where Huel has carved out a strong, independent position, particularly in meal replacements and functional nutrition.
For Danone and Huel, regulatory clearance would pave the way for accelerated international expansion and greater investment in product development. However, any remedies imposed by the CMA could temper those ambitions, shaping how aggressively the combined business can operate in the UK market.
More broadly, the review will be closely watched by the food and drink industry. It underscores the increasing scrutiny facing large multinationals as they move to acquire fast‑growing challenger brands in health‑focused categories and may influence how future deals in functional nutrition, plant‑based and better‑for‑you foods are structured and communicated.
