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WM Partners Buys Vega
Back in 2015, Canadian supplement company Vega was sold to White Wave Foods for approximately $550 million dollars. Just two years later, food giant Danone acquired White Wave Foods for $12.5 billion dollars! Fast forward to 2021 and Danone has unloaded Vega to an investment company called WM Partners. Terms of the transaction were not disclosed but the deal includes Vega which is made up of (Sequel Naturals, ULC and Vega US, LLC).
Founded in Burnaby, BC, Canada in 2001, Vega is a pioneer of the plant-based nutrition industry and a leading brand in plant-based protein powder. Vega's primary focus is on high quality plant-based protein powders across several categories, including Daily Nutrition, Sports Nutrition, and Functional Wellness. Its innovative products contain unique combinations of real, plant-based food ingredients. The brand has successfully expanded beyond its natural channel origins to become a leading brand in the conventional and e-commerce channels.
WM Partners is focused on acquiring middle market companies with leading brands in the health and wellness sector and growing the companies through an operational buy and build value creation strategy. The potential acquisition of Vega is expected to complement their existing portfolio of brands in the functional foods subsector:
- Ultima Replenisher, a hydration brand acquired in 2019;
- Great Lakes, a collagen brand acquired in 2020;
- Jade Leaf, a matcha brand acquired in 2020;
- FGO, a superfoods brand, acquired in 2020.
"We are excited to work with Vega, the pioneers and leaders of the plant-based nutrition industry and look forward to implementing our operational playbook to create additional value" said Jose Minski, co-founder of WM Partners.
"We are looking forward to partnering with the WM Partners team to build on Vega's existing strengths. Their extensive experience in the health and wellness sector and significant operational capabilities will help accelerate our long-term strategic plans and solidify the Vega brand as a key player in plant-based nutrition," said Patrick Brown, President of Vega.
About WM Partners, LP
WM Partners is a middle-market private equity firm specializing in buyout investments in the health and wellness sector. WM Partners seeks to acquire small and medium size businesses with attractive growth prospects and generate sustainable, long-term value through its operational expertise in the health and wellness sector, and strategic business approach working in collaboration with experienced management teams. WM Partners is based in Aventura, FL.
SOURCE: PR NEWSWIRE