The head of the meal replacement company backed by actor Idris Elba has said he would consider selling it rather than listing it on the London stock exchange.
Chief executive James McMaster said Hertfordshire-based Huel was “open-minded” about a partnership with a larger company if prospects for initial public offerings (IPOs) do not improve.
However, he added that the company is “very happy where we are now” to have received the backing of investors, including Elba and his wife Sabrina.
Star turn: Meal replacement company Huel is backed by actor Idris Elba (pictured with wife Sabrina)
“Let’s see what happens and if we get different knocks on the door and how loud they are,” he told the Financial Times.
An IPO was on the cards before global markets were hit by higher interest rates.
Huel has seen a boom in sales of its protein powders, drinks and dehydrated meals as health-focused consumers return to the office and have less time to cook.
Sales soared 28 per cent to £184 million during the year to the end of July. It also posted a £4.7m profit after posting a £10.6m loss the previous year.
