News
Hain lets go of tofu company
9 May 2019Hain Celestial 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.
The 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.
"We are pleased to complete the strategic divestiture of the WestSoy tofu, seitan and tempeh businesses," said Mark L. Schiller, Hain Celestial's President and Chief Executive Officer. "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."
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