Hain Celestial to acquire tofu business
May 30, 2007
by FoodBusinessNews.net Staff
MELVILLE, N.Y. — The Hain Celestial Group, Inc. has reached an agreement with WhiteWave Foods Co., a subsidiary of Dean Foods Co., to acquire its tofu and meat-alternative business.
"Adding the tofu and meat-alternative business from WhiteWave Foods complements our existing Yves Veggie Cuisine product line, strengthening and expanding our fresh, meat-free alternative product offerings to further support this sector of the growing natural and organic market," said Irwin D. Simon, president and chief executive officer of The Hain Celestial Group.
The product lines to be acquired are currently sold under brand names TofuTown and WhiteWave and include baked and grilled tofu, seitan, tempeh and other tofu items. This tofu business had sales of about $8 million in the last fiscal year.
While the acquisition excludes the WhiteWave trademark, Hain Celestial will market existing products under the WhiteWave brand for a transitional period.
The acquisition is expected to close in June.