Huel CEO considers sale amid tough UK IPO climate By Investing.com

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Huel CEO considers sale amid tough UK IPO climate

Published Nov 21, 2023 06:52

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Huel CEO considers sale amid tough UK IPO climate

The CEO of Huel, James McMaster, is exploring options for selling or partnering the meal replacement company in light of a challenging initial public offering (IPO) environment in the UK, according to the Financial Times. The company's deliberation on its future strategy follows a successful financial period, with Huel reporting a pretax profit and a notable 28% boost in sales.

The current market conditions, characterized by high interest rates and ongoing geopolitical tensions, have made the prospect of going public less attractive for companies. This sentiment is reflected in the significant drop in UK listings this year, with only £953 million raised, a decline from £1.16 billion the previous year, according to statistics from EY.

Huel's consideration of alternative strategic options aligns with broader industry trends, as showcased by Mars' recent acquisition of Hotel Chocolat. The move by Huel's CEO suggests that the company is seeking to capitalize on its robust financial health and substantial growth. With a former valuation of £440 million, Huel stands as an attractive target for potential buyers or partners within the food and beverage industry.

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