Lake Success, NY—The Hain Celestial Group, Inc.announced in a press releasethat it has completed the divestiture of the WestSoy tofu, seitan and tempeh businesses to Keystone Natural Holdings.
The WestSoy plant-based beverage business, however, was retained by Hain Celestial.
The terms of the transaction were not disclosed.
Mark Schiller, president and CEO of Hain Celestial, said in the release: “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.” He added that the divested businesses will be strong performers in the hands of a committed owner.
