Danone sells Vega to the WM funds
The strategy of rationalizing the asser of the French group continues
Danone has announced the sale of the Vega brand, which markets veg products in Canada and the United States, to funds managed by WM Partners, a US investment company specializing in the health and wellness industry. Danone had already announced last October that it would carry out a review of both strategic options in Argentina and the Vega brand and possibly other assets as well.
The group aims to rationalize its portfolio in order to pursue profitable growth of around 3-5%. The company's note did not disclose the amount of the transaction, but only reminds that Vega has a turnover of around 100 million Euros. Danone had won the Vega brabd as part of the 2017 acquisition of the American organic dairy and vegetable specialist Whitewave.
EFA News - European Food Agency