Dream and Westsoy non-dairy milks sold to holding company for $33 million.
As part of its continuing transformation and consolidation, Hain Celestial Group sold its North American non-dairy beverage brands Dream and Westsoy to SunOpta Inc. for $33 million, it was announced April 15.
SunOpta primarily has been a co-manufacturer and private labeler of plant-based products, heavily into soy and fruit. Equity firm Oaktree Capital Management is a key investor. It does have one brand, SunRich.
Hain Celestial's Westsoy has always focused on soy milk. Hain sold the WestSoy tofu, seitan and tempeh businesses in mid-2019 to Keystone Natural Holdings. The Dream brand offers oat and rice milks. "We considered this business to be non-core within our North American business, and as such, this divestiture fully aligns with both our portfolio simplification process and prioritization efforts," said Hain Celestial President/CEO Mark Schiller.
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