The organic food manufacturer Hain Celestial has announced that it has completed the sale of its WestSoy® branded meat replacement product line to Keystone Natural Holdings. This applies to its entire tofu, seitan, and tempeh product range. The company’s vegan beverage business, which is also sold under the WestSoy® brand name, will remain with Hain Celestial.
According to managing director Mark L. Schiller, the sale of the meat alternatives product division is a strategic step towards concentrating the company’s own-brand portfolio more strongly and thus generating sustainable growth for the company. No further details of the business transaction were published.
Hain Celestial Group, Inc., based in Lake Success, NY, is one of the leading organic and natural product companies in North America, Europe, Asia, and the Middle East. The company manufactures and sells numerous vegan products and brands, including Yves Veggie Cuisine®, Joya®, Hartley’s, and Natumi®, as well as several personal care product lines.
Keystone Natural Holdings is a US portfolio company of Keystone Capital, focused on vegan and vegetarian food products.