CPE News (7/29/2021) – WM Partners announced that HPH II Investments Master Fund, LP, together with its parallel and feeder funds, through its wholly owned entity, has completed its previously announced acquisition of Vega (Sequel Naturals, ULC and Vega US, LLC) from Danone S.A. (Euronext Paris: BN).
Financial terms were not disclosed.
Aventura, Florida based WM Partners is a middle-market private equity firm specializing in buyout investments in the health and wellness sector. HPH II, a US $107.6 million 2019-vintage fund, is focused on acquiring middle market companies with leading brands in the health and wellness sector.
Burnaby, BC based Vega is a pioneer of the plant-based nutrition industry and a leading brand in plant-based protein powder in both the U.S. and Canada. Vega’s primary focus is on high quality plant-based protein powders across several categories, including Daily Nutrition, Sports Nutrition, and Functional Wellness.
On August 1, 2015, The WhiteWave Foods Company (formerly NYSE: WWAV) acquired Sequel Naturals Ltd. for US $553.6 million in cash.
In April 2017, Danone acquired WhiteWave for US $12.75 billion. Danone said the sale of Vega is part of its continuous capital allocation optimization and of the strategic review of its portfolio of brands, SKUs and assets announced in October 2020.
photo credit: Vega
News Release
WM Partners Announces Acquisition of Vega
AVENTURA, Fla., July 29, 2021 /PRNewswire/ — WM Partners, a certified diverse-owned private equity firm focused on investing in middle market companies and driving value creation in the health and wellness sector, today announced that HPH II Investments Master Fund, LP, together with its parallel and feeder funds (“HPH II”), through its wholly owned entity, has acquired Vega (Sequel Naturals, ULC and Vega US, LLC, together “Vega”). 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 U.S. and Canada. Vega’s primary focus is on high quality plant-based protein powders across several categories, including Daily Nutrition, Sports Nutrition, and Functional Wellness. Its innovative products contain unique combinations of real, plant-based food ingredients. The brand has successfully expanded beyond its natural channel origins to become a leading brand in the conventional and e-commerce channels.
HPH II is focused on acquiring 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.
HPH II’s 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.
King & Spalding served as legal advisor to WM Partners.
About WM Partners, LP
WM Partners is a middle-market private equity firm specializing in buyout investments in the health and wellness sector. WM Partners seeks to acquire small and medium size businesses with attractive growth prospects and generate sustainable, long-term value through its operational expertise in the health and wellness sector, and strategic business approach working in collaboration with experienced management teams. WM Partners is certified as a diverse-owned firm by the National Association of Investment Companies. WM Partners is based in Aventura, FL. More information about WM Partners is available at www.wmplp.com.
For media inquiries about this press release, please contact:
WM Partners, LP
Anibal Montes
Email: anibalm@wmplp.com
Tel: +1 754-260-6514
SOURCE WM Partners