AVENTURA, FLA. — WM Partners, an Aventura, Fla.-based private equity investment fund focused on the health and wellness industry, has completed its acquisition of the Vega business from Danone. Financial terms of the transaction were not disclosed.
Founded in 2001, Vega is a North American brand offering plant-based foods made with such ingredients as sprouted whole grain brown rice and pea protein, chia and hemp seeds, organic peanut butter, and such vegetables as spinach, broccoli and kale. The brand offers a range of powders for daily nutrition, sports nutrition and functional wellness.
Vega joins an investment portfolio that includes Ultima Replenisher, Great Lakes, Jade Leaf and FGO. WM Partners said its team has been monitoring Vega’s growth and trajectory in recent years.
"We believe we will be able to leverage our operational know-how to continue to grow Vega, as well as leverage Vega's distribution strengths with our current portfolio of brands," said Jose Minski, co-founder of WM Partners.
Danone had acquired the Vega brand in 2017 through its $12.5 billion purchase of WhiteWave Foods, a maker of plant-based foods and beverages, coffee creamers and premium dairy products sold under the Silk, So Delicious, Horizon Organic, Earthbound Farm and Alpro brands. Danone last fall announced it would begin exploring strategic options for Vega as well as its operations in Argentina, which represent combined sales of approximately $500 million. The portfolio review is one part of Danone’s larger effort to keep pace with its goal of 3% to 5% profitable growth.