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Plant-based protein brand Vega acquired by PE firm

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© Zhanna Hapanovich / Getty Images
© Zhanna Hapanovich / Getty Images

Related tags: M&A

Canadian plant-based protein brand Vega has been acquired by WM Partners, a private equity firm focused on investing in middle market companies in the health and wellness sector.

“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, which acquired Vega through its HPH II Investments Master Fund, LP, together with its parallel and feeder funds.

The PE firm had been monitoring Vega's growth and trajectory for several years, according to a press release, and is excited about how well it fits HPH II's portfolio of brands, which currently 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.

Vega was founded in Burnaby, BC, Canada in 2001, and is primarily focused on high quality plant-based protein powders across several categories, including Daily Nutrition, Sports Nutrition, and Functional Wellness. Its products contain 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.

King & Spalding served as legal advisor to WM Partners.

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