Hain Celestial buys meat alternatives

US natural and organic group, The Hain Celestial Group,Inc. announced on Monday that it had acquiredprivately-held Yves Veggie Cuisine Inc., a US manufacturer and distributor of soy protein meat alternative products. With over 250 employees, Yves Veggie Cuisine products currently include a full line of meat alternatives and cheese substitutes sold throughout the United States and Canada. Irwin D. Simon, Chief Executive Officer of The Hain Celestial Group​, said, "Yves is a proven leader in the rapidly growingcategory of meat and cheese alternatives. Together, we will maximize distribution opportunities throughout NorthAmerica for Yves and leverage Yves' capabilities in refrigerated distribution."​ In 2000, Yves revenues were approximately $35 million, with 72 per cent of sales volume generated from leading conventional supermarkets and mass market retailers. Terms of the transaction were not disclosed.