WM Partners, a private equity firm based in Aventura, FL, has agreed to acquire Vega, a Canadian provider of plant-based protein powder products, from food and beverage conglomerate Danone.
WhiteWave Foods, a Danone subsidiary, has owned the company since buying it for $550 million in 2015. Terms of the transaction were not disclosed, and the closing is subject to customary conditions.
Founded in Burnaby, BC, Canada in 2001, Vega’s primary focus is on plant-based protein powders across several categories, including Daily Nutrition, Sports Nutrition and Functional Wellness. Its products contain combinations of plant-based food ingredients. The brand expanded beyond its channel origins into the conventional and e-commerce channels.
HPH II is focused on acquiring middle-market companies with brands in the health and wellness sector. The potential acquisition of Vega is expected to complement its existing portfolio of brands in the functional foods subsector that includes Ultima Replenisher, Great Lakes, Jade Leaf, and FGO.
King & Spalding served as legal advisor to WM Partners.
Photo courtesy Vega
