Danone recently announced that it had signed an agreement to sell Vega, Canada, and US plan-based nutritional products brand, to funds managed by WM Partners, a US-based private equity investment firm focused on the health and wellness industry.
The sale of Vega is part of Danone’s continuous capital allocation optimization and the strategic review of Danone’s portfolio of brands, SKUs, and assets announced in October 2020.
The closing of the transaction is subject to customary conditions.
Vega is a brand of plant-based nutritional products owned by Danone. The company was started in Burnaby by Charles Chang and Brendan Brazier in 2004. In 2015, Vega was sold to Denver-based giant Whitewave Foods for US $550 million.
The Vega line of products includes vegan protein powder, protein bars, protein snacks, protein shakes, and supplements. Their products are all vegan certified and non-GMO Project verified. Vega products predominantly use pea-based protein instead of the typical dairy-based whey protein used in most supplemental protein products.
The Vega protein with greens comes in seven flavors while offering 20 grams of plant-based protein, veggies, and green daily servings.