Vancouver, Canada—Nutritional food company Vega, based here, has been acquired by dairy producer WhiteWave Foods Co., for $550 million.
WhiteWave Foods has several organic brands such as Horizon Organic, Earthbound Farm and the Silk line of dairy alternatives. In a statement on the company website, WhiteWave described Vega as a “pioneer and leader in plant-based nutrition products” and noted that “is acquisition represents an opportunity for WhiteWave to extend its plant-based foods and beverages platform into nutritional powders and bars, with additional innovation opportunities.” Vega is primarily known for its fully plant-based line of powdered shakes and snack bars.
This transaction is expected to close in Q3 2015, subject to regulatory approvals and other customary conditions. Vega will still stay headquartered in Vancouver, with its current senior management still leading the business. In a press release put out by Vega, several representatives of the company expressed their confidence in what the acquisition would allow. President and founder Charles Chang said that “WhiteWave will provide us with the expertise and resources to further realize our vision of empowering the world to thrive through clean, plant-based nutrition.” The release also doubled-down on the fact that Vega would still retain the same sustainable practices, quality ingredients, and customer service that their following had come to expect, with the added innovation and resources that the acquisition would provide.