Canada: WM Partners acquires plant-based protein powder firm Vega

Acquisition was made through WM Partners’ HPH II Investments Master Fund, LP, together with its parallel and feeder funds, through its wholly owned entity

Middle-market private equity firm WM Partners has acquired Vega, which sells plant-based protein powder in the US and Canada.

Founded in Burnaby in British Columbia, Canada in 2001, Vega offers 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 acquisition was made through WM Partners’ HPH II Investments Master Fund, LP, together with its parallel and feeder funds, through its wholly owned entity.

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.

WM Partners stated it has been monitoring Vega’s growth and trajectory over the past few years and is excited about how well it fits HPH II’s portfolio of brands.

Jose Minski, co-founder of WM Partners, said: “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.”

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 was legal advisor to WM Partners.

WM Partners is based in Aventura, Florida.