Hain Celestial has completed the sale of its French organic brand Danival to Wessanen, in its latest effort to further simplify its portfolio.
Based in the southwest of France, Danival is a producer of locally sourced organic products based on fruit and vegetables, which are sold in French health food stores. Its portfolio is comprised of a mixture of savoury and sweet products including ready to eat salads, soups, sauces, dried fruits and fruit purées.
With approximately 120 employees, Danival has been certified a Sustainable Organic Company (BioED).
The deal, which was made for an undisclosed sum, will see Danival join Wessanen’s portfolio of organic brands such as Whole Earth peanut butter, rice cake brand Kallø and Clipper Teas.
According to Wessanen, the Danival acquisition will strengthen its position in the French market and is proof of its role as Europe’s first multinational B Corp food business.
“Danival will be a perfect fit with our family of companies. The brand is a pioneer in the organic French market with strong commitments: 100% organic, locally sourced, free from flavours, food colourings and thickeners,” said Christophe Barnouin, CEO of Wessanen.
He added: “It reinforces our commitment to the French HFS channel and strengthens our position in the veggie meals category with own production facilities and local sourcing in southwest France. Our ambition is to further grow Danival’s business and leverage their sustainability commitment across Wessanen.”
Mark Schiller, Hain Celestial’s president and CEO, said: “We are pleased to complete the strategic sale of Danival in Europe to Wessanen, a leader in healthy and sustainable food in the European market. This transaction helps to further our brand portfolio simplification journey as we continue to improve our margins and cash flow to fuel long term sustainable growth and profitability.”
Last year, Hain Celestial divested its Arrowhead Mills and SunSpire brands, its Tilda rice brand, as well as its Hain Pure Protein business and WestSoy tofu, seitan and tempeh unit.
© FoodBev Media Ltd 2021
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