The Hain Celestial Group, Inc. (Nasdaq: HAIN), a leading natural and organic food and personal care products company, announced it would acquire the tofu and meat-alternative business of WhiteWave Foods Company, a subsidiary of Dean Foods Company (NYSE: DF). These products are sold under the brand names TofuTown® and WhiteWave® and are currently manufactured in Boulder, Colorado.
“Adding the tofu and meat-alternative business from WhiteWave Foods complements our existing Yves Veggie Cuisine® product line, strengthening and expanding our fresh, meat-free alternative product offerings to further support this sector of the growing natural and organic market,” said Irwin Simon, President and CEO of Hain.
The product line includes baked and grilled tofu, seitan, tempeh and other traditional tofu items sold through natural and conventional grocery stores as well as in foodservice outlets. The tofu business generated sales of approximately $8 million in the last fiscal year. The transaction is expected to be accretive to Hain Celestial’s earnings during its fiscal year 2008.
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