Keystone Natural Holdings Acquires WestSoy
Hain Celestial to retain the WestSoy® plant-based beverage business
Keystone Natural Holdings, a portfolio company of Keystone Capital, Inc., completed its acquisition of the WestSoy® tofu, seitan, and tempeh businesses from The Hain Celestial Group, Inc. The acquisition did not include the WestSoy® plant-based beverage business, which has been retained by Hain Celestial.
KNH is a leading plant-based, better-for-you food company with operations in the United States and Canada. The company’s authentic and health-conscious products from storied brands such as Nature’s Soy®, Franklin Farms™, and Superior Natural™ are proudly sold through mainstream and ethnic channels via retail, mass market, natural, specialty, and food service outlets. The company continues to actively pursue strategic acquisitions to further expand its portfolio of innovative products and better serve consumers seeking alternative proteins for all meal occasions.
This acquisition marks KNH’s third in the past 18 months and provides KNH with additional product capabilities as well as expanded manufacturing capacity in its existing tofu product line. All employees at the WestSoy® facility in Boulder, Colorado have been retained to continue to drive growth and product innovation.
Terms of the transaction are not being disclosed. Senior debt financing was provided by Wintrust Bank. Legal counsel was provided to Keystone by Honigman Miller Schwartz and Cohn, LLP.