Thursday, May 31, 2007

Hain Celestial Group Buys WhiteWave Foods Co.

"Broomfield-based WhiteWave Foods Co. will sell its tofu and meat-alternative business to the Hain Celestial Group for an undisclosed amount, the companies said Wednesday.

The deal, expected to close next month, will take WhiteWave out of the tofu business for the first time since Boulder entrepreneur Steve Demos started the company in 1977.

Demos built the business on tofu and Silk soymilk products, selling to Dallas-based Dean Foods Co. in 2002 for $204 million. Two years later, Dean paid $216 million to acquire Horizon Organic Dairy, and eventually combined the units under the WhiteWave umbrella.

Once the sale closes, WhiteWave will focus on building its four remaining key brands: Silk, Horizon Organic, International Delight and Land O'Lakes, said spokeswoman Molly Keveney."

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I have never been much of a fan of soy, especially after reading Harvard's thoughts about it. It's pretty unavoidable though because it's in almost every product.

Tofu tastes okay, but soy milk is like drinking liquid cardboard.