Hain Celestial has completed the sale of its US canned food brand, Westbrae Natural, to Bush Brothers & Company, as it simplifies its North American portfolio.
Known for its baked beans, US-based Bush Brothers produces a range of bean-based commodities. Westbrae Natural was acquired by Hain Celestial in 1997 and its products include soups, non-dairy beverages and canned beans.
The transaction will allow Hain Celestial to focus resources on driving distribution and expanding innovation on “priority brands”.
Hain Celestial’s president and CEO, Mark Schiller, said: “In our continuing journey to simplify the company and focus on the brands and categories with growth potential in line with our strategic direction, we are pleased to announce the divestiture of the Westbrae Natural brand to Bush Brothers”.
“The divestiture of this non-strategic brand represents another important step in simplifying our North American portfolio while improving our future growth profile, margins and cash flow.”
Last year saw Hain Celestial complete the divesture of its Dream and WestSoy brands to Sun Opta for $33 million. The group also sold its UK fruit business – which includes Orchard House Foods and associated brands – to private equity firm Elaghmore.
The financial terms of the Westbrae Natural deal were not disclosed.
© FoodBev Media Ltd 2022
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