VMG Partners – a private equity firm based in San Francisco behind a large portfolio which includes Daily Harvest, Vega, Pretzel Crisps® and other vegan snacks – announced yesterday the closing of VMG Partners V, L.P. (“VMG Growth Fund V”) at its target and hard cap of $850 million. With the closing of VMG Growth Fund V, VMG’s assets under management increase to around $2.6 billion.
Plant-Based Startup Daily Harvest Acquired by Dairy Giant Chobani
Daily Harvest, a US startup offering plant-based smoothies, snacks, protein products, and ready meals, has been acquired by dairy giant Chobani for an undisclosed sum. The acquisition marks Chobani’s entry into the ready-to-make meals category. Daily Harvest was founded in 2015 to improve consumers’ access to convenient, organic foods rich in fruits and vegetables. In a statement, the startup said its products, website, and team would remain unchanged following the acquisition. “I’m excited to share a new chapter in our journey,” said Ricky Silver, CEO of Daily Harvest. “Daily Harvest is officially joining the Chobani family, a company whose values and vision beautifully align with our own. Like us, Chobani is deeply committed to nourishing people, uplifting communities, and using business as a force for …