Pinsent Masons advises Huel on landmark deal with Danone

Founded in 2015 by Julian Hearn, Huel began with the simple mission to improve the health of people and the planet through convenient and complete nutrition. In a decade, it has grown exponentially, attracting customers around the world and becoming a leading brand in the food tech space with a genuine omnichannel operation.   

Pinsent Masons’ role in advising on this transaction marks the latest milestone in a relationship that spans Huel’s entire growth journey, from its initial investment round in 2018 through to today’s announcement of a full exit. This deal represents one of the most significant transactions in the UK’s high growth investment landscape and reflects the growing consumer demand for health and wellness products.   

The Pinsent Masons team was led jointly by Head of Retail & Consumer, Tom Leman and Corporate Partner Ben Elliott, alongside Senior Associate Samantha Treleaven and Associate Peter O’Connell. The deal required a complex combination of specialist tax, employee incentive and competition expertise from Peter Morley (Tax), James Sullivan Tailyour (Employee Incentives) and Paul Williams and Alex Stratakis (Competition). Pinsent Masons’ Legal Project Management team was embedded into the delivery model from the outset, allowing lawyers to focus on strategy while ensuring large scale transaction management was handled efficiently and with the use of legal technology solutions.   

Commenting on today’s signing, Ben Elliott said: “This transaction represents a defining moment for Huel. To have advised a business from its earliest investment round all the way through to an exit on this scale is a privilege and a clear sign of the strength, resilience and ambition we see in innovative, high growth consumer brands.”   

“Huel’s journey reflects the promise inherent in the UK’s VC ecosystem and is a study in how businesses can scale globally, attract world class institutional capital, and reach landmark outcomes without leaving the UK. This outcome is also an excellent example of how long-term legal partnerships can create real commercial value for clients, and we look forward to continuing to advise the Huel team on the next phase of their journey.” 

James McMaster, CEO of Huel added: “Pinsent Masons has been a trusted partner to Huel from the outset, supporting us through every stage of our growth, from our venture capital funding round to this pivotal moment in unlocking our next chapter. They have had the trust of myself and shareholders on the full breadth of legal support along the way and I’m very grateful for everything they have done. Tom, Ben, and Sam have been the ever presents with the wider team stepping in seamlessly where required. Their advice has been consistent, commercial, and deeply aligned with our ambitions as a brand.”   

Pinsent Masons’ work on this transaction reinforces its reputation for guiding fast-growing consumer brands in the Retail & Consumer space, including Sweaty Betty on its sale to Wolverine, the management team of Charlotte Tilbury on the sale to Puig, Monica Vinader on its sale to Bridgepoint, Tangle Teezer on its sale to Mayfair Private Equity and KIKO Milano UK on the sale to L Catterton.