07 May 2019 | News
The strategic divestiture did not include the WestSoy® plant-based beverage business
The Hain Celestial Group, a leading organic and natural products company with operations in North America, Europe, Asia and the Middle East has announced that it has completed the divestiture of the WestSoy® tofu, seitan and tempeh businesses to Keystone Natural Holdings, a portfolio company of Keystone Capital focusing on plant based food.
Mark L. Schiller, Hain Celestial's President and Chief Executive Officer said, "We are pleased to complete the strategic divestiture of the WestSoy tofu, seitan and tempeh businesses. This brand divestiture is in-line with the core objectives of our transformational strategic plan to reduce complexity and streamline our portfolio of brands to drive sustainable growth and shareholder value. We believe the WestSoy tofu, seitan and tempeh business, while not core to our strategy, will be a strong performer in the hands of an owner who is committed in this category and will continue to deliver innovative high-quality products to our customers."
The strategic divestiture did not include the WestSoy® plant-based beverage business, which has been retained by Hain Celestial. The terms of the transaction were not disclosed.