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.
