Hain Celestial, an organic and natural products company with operations across the globe, has sold its non-dairy beverage brands Dream and Westsoy to SunOpta Inc. for $33 million.
"With today's announcement and the strategic sale of our North America non-dairy beverages business to SunOpta, we provide the market with the latest example of what has been an ongoing transformation of our brand portfolio,” said Mark L. Schiller, Hain Celestial's president and chief executive officer, in a statement. “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 of our Get Bigger brands. Additionally, this transaction improves our growth profile without impacting the profit margin for the remaining Hain Celestial business, providing us with increased confidence in our ability to continue to enhance shareholder returns over the long-term."
Related: Sun-Maid Acquires Plum Organics; Frostkrone Food Group Acquires Abergavenny Fine Foods.
Image: Hain Celestial