Danone, the food and beverage multinational, has announced the sale of its plant-based nutritional products brand Vega to WM Partners, a private equity firm.
Vega’s products are available throughout Canada and USA and its portfolio includes plant-based sport and nutrition items such as protein powders, bars, supplements, and snacks.
According to Danone, the deal is part of the company’s ongoing optimisation of capital allocation and of the strategic review of its portfolio of brands, SKUs, and assets that was announced in October 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”, commented Jose Minski, co-founder of WM Partners.
Patrick Brown, president of Vega, said: “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.”
The financial details of the deal have not been disclosed.
Source: Danone Press Release