Private equity firm to acquire Danone’s Vega brand

PARIS — WM Partners, an Aventura, Fla.-based private equity investment fund focused on the health and wellness industry, has reached agreement to acquire the Vega business from Danone. Financial terms were not disclosed.

Founded in 2004, 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. Danone acquired the 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.

The company 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.