Private equity firm WM Partners has acquired plant based nutrition business Vega (including the Sequel Naturals, ULC and Vega US operations). Terms of the transaction were not disclosed.
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 in both the US and Canada.
The brand made a big splash in the endurance sport space with its title sponsorship of the IRONMAN World Championship in 2019. It joined the iconic event in Hawai’i, as the Official Recovery Nutrition partner of the 2019 Vega IRONMAN World Championship, in addition to its designation as title sponsor.
‘Vega’s primary focus is on high quality plant-based protein powders across several categories, including daily nutrition, sports nutrition, and functional wellness. Its products contain combinations of plant-based food ingredients.’
WM Partners adds that the brand has successfully expanded beyond its natural channel origins to become a leading brand in the conventional and e-commerce channels.
WM Partners and its HPH II fund specialise in… ‘middle market companies with leading brands in the health and wellness sector, with a specific focus on the functional foods, natural personal care, and natural over-the-counter remedies subsectors, and growing the companies through an operational buy and build value creation strategy.
‘The WM Partners’ team has been monitoring Vega’s growth and trajectory over the last few years and are excited about how well it fits HPH II’s portfolio of brands.’
“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.
The HPH II portfolio includes Ultima Replenisher, a hydration brand, acquired in 2019; Great Lakes, a collagen brand, acquired in 2020; Jade Leaf, a matcha brand acquired in 2020; and FGO, a superfoods and tea brand, acquired in 2020.
