©Dream
SunOpta has acquired plant-based beverage brands, Dream and WestSoy, from The Hain Celestial Group for $33 million.
With distribution across the natural and grocery channels, the Dream brand offers a range of shelf-stable, plant-based milks. SunOpta currently produces around half of the brand’s product portfolio and has done so for over a decade.
Available at many national retailers, the WestSoy range includes a variety of shelf-stable soy beverages, including a number with USDA organic certification and certification from the American Heart Association as a heart-healthy product. The entire WestSoy product portfolio is currently produced by SunOpta.
With the acquisition, SunOpta aims to accelerate the growth of its plant-based foods and beverages segment.
“These two brands are perfect examples of niche brands that complement, but do not directly compete with, our vitally important co-manufactured partners,” said SunOpta CEO, Joe Ennen.
“Since SunOpta has been manufacturing these brands for years, when this opportunity presented itself it was an obvious fit for us to own these brands.”
Mark Schiller, Hain Celestial president and CEO, said: “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.
“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 prioritisation efforts of our ‘get bigger’ brands.”
Hain Celestial previously divested its WestSoy tofu, seitan and tempeh unit, as part of its efforts to streamline its portfolio of brands.
© FoodBev Media Ltd 2024
World Beverage Innovation Awards – NOW OPEN FOR ENTRIES!
The awards celebrate excellence and innovation across the global beverage industry. Don’t miss out on having your innovations recognised on a global scale.
Deadline for entries 23 July – enter now!
Don’t get left behind
Start your free Foodbev magazine trial today and join thousands of fellow industry professionals in receiving food and drink trends direct to our business.
Click here to start your free trial
Your privacy We use small files known as ‘cookies’ to enhance your experience of the FoodBev website and analyse site-traffic. Read about how we use cookies or how you may control them in our updated privacy policy and cookie policy. If you continue to use this site, you consent to our use of cookies. Click the ‘OKAY‘ button at the top right of this panel to accept or click here for more information.