French multinational food company Danone has announced it will acquire UK-based meal solutions company Huel.

Danone said it has entered into a "definitive agreement" to acquire Huel, in line with its 'Renew Danone' strategy.

The multinational business said the acquisition will enhance its presence in functional nutrition and extend its portfolio into the fast-growing 'Complete Nutrition' area.

Huel's range includes various food forms, such as 'ready-to-drink' and powders, which Danone said is supported by "best‑in‑class" digital execution; strong digital direct-to-consumer sales; and a "fan-base" in the UK, Europe, and the US.

The French-based multinational said that its own scale, capabilities and global reach will accelerate Huel's growth, innovation and international expansion.

The transaction remains subject to the usual closing conditions, including regulatory approvals.

Commenting on the proposed acquisition, Antoine de Saint-Afrique, Danone chief executive officer (CEO), said: "We are delighted to welcome Huel and the Huel team into the Danone family.

"What they have achieved in the fast-growing Complete Nutrition space fully resonates with Danone’s mission of delivering health through food," Saint-Afrique added.

"Combining their range and best-in-class digital capabilities with Danone’s global reach and deep nutritional expertise offers exciting opportunities into the new and fast-growing nutritionally complete space, in line with our Renew Danone strategy.

"We look forward to learning from one another and unlocking new opportunities and growth for both businesses," he commented.

James McMaster, CEO of Huel, commented: "We are so excited to be joining Danone, and today marks the next step for Huel.

"We've spent 10 years building a brand with a positive impact on people's health.

"We've grown into an omnichannel business with a strong direct-to-consumer foundation, an expanding international footprint, and a retail business that's scaling quickly.

"With Danone, we will now have the infrastructure, distribution and R&D [research and development] capability to go further, into new markets and to more people, as demand for convenient, complete nutrition continues to grow," McMaster said.