WhiteWave Foods to acquire VMG-backed Vega for $550 mln
The WhiteWave Foods Co (NYSE: WWAV) has agreed to buy Vega, a Canadian natural health products and nutritional supplements company, for US$550 million in cash. Vega, which offers a range of plant-based nutrition products, such as powdered shakes and snack bars, generated net sales of about US$100 million over the last twelve months. It is majority owned by Founder and President Charles Chang and U.S. private equity firm VMG Partners. WhiteWave said the deal will broaden the scope of its food and beverage product platform. The acquisition, which will keep Vega at its Vancouver headquarters and led by its senior management team, is expected to close in the third quarter.
10 June 2015•7 mins read
