By Giulia Petroni

Danone SA on Thursday said that it agreed to sell its plant-based brand Vega to funds managed by U.S.-based private equity investment firm WM Partners.

The French food company said the sale is part of its capital allocation optimization and the strategic review of its portfolio and assets announced last year.

The transaction closing is subject to customary conditions, it said.

Financial details of the deal weren't disclosed.

Write to Giulia Petroni at giulia.petroni@wsj.com

(END) Dow Jones Newswires

June 17, 2021 12:30 ET (16:30 GMT)

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