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The $33 million deal enables SunOpta to expand its presence in the niche market of plant-based beverages.
Natural and organic products firm Hain Celestial Group Inc. closed the sale of its plant-based WestSoy and Dream brands to SunOpta Inc. this week, the companies announced in separate releases. The transaction was valued at $33 million.
“With today’s announcement and the strategic sale of our North American non-dairy beverages to SunOpta, we provide the market with the latest example of what has been an ongoing transformation of our brand portfolio,” Hain’s president and chief executive officer Mark L. Schiller said 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.”
Representative image Powder & Bulk Solids provides a roundup of the biggest food and beverage industry stories that were published this January.
The first month of 2021 was full of exciting and tragic news in the food and beverage industry. Six were fatally injured in a nitrogen leak at a poultry plant and a potato plant was destroyed by a fire. PepsiCo and Post Holdings made big steps into the plant-based meats space last month. We also showcased some of the internet’s best videos of food factory tours. Powder & Bulk Solids editors selected these posts to provide our audience with an overview of some of the most interesting food and beverage-related news that was reported in the last month.
The California-based protein products firm is expanding its portfolio to include plant-based alternatives.
Ground beef processor and marketer Jensen Meat Co. recently broke ground on a new processing plant and launched expansion projects at its two existing plants to add capabilities for production of plant-based beef alternatives.
“With sixty years’ experience, Jensen Meat has perfected how to process and pack quality ground beef,” Abel Olivera, the firm’s CEO, said in a company release. “We now want to leverage our world-class knowledge to create a cost-effective process for producing plant-based products.”
The new processing facility enables the company to form new partnerships, test new processes, and boost its output of plant-based products. Jensen Meat said the site will include a range of capabilities, including blending, cooking, dry mixing, emulsifying, and hydrating, as well as bulk and patty forming for retail and foodservice products.