Natural and organic products firm Hain Celestial Group Inc. closed the sale of its plant-based WestSoy and Dream brands to SunOpta Inc. this week, the companies announced in separate releases. The transaction was valued at $33 million.

“With today’s announcement and the strategic sale of our North American non-dairy beverages to SunOpta, we provide the market with the latest example of what has been an ongoing transformation of our brand portfolio,” Hain’s president and chief executive officer Mark L. Schiller said in a statement. “We considered this business to be non-core within our North American business, and as such, this divestiture fully aligns with both our portfolio simplification process and prioritization efforts of our Get Bigger brands.”

The executive also said the deal boosts Hain’s growth profile without affecting its profit margin.

WestSoy and Dream will be added to SunOpta’s Plant-Based Foods and Beverages segment. The Dream non-dairy milk brand was launched in 1982 and is currently the second biggest brand of shelf-stable, plant0based milks. 50% of the brand’s portfolio has beeb produced by SunOpta for more than a decade. WestSoy is the only USDA organic certified shelf-stable soy beverage on the market. SunOpta currently manufactures all of the WestSoy portfolio.

“This transaction is very consistent with our previously stated objective of pursuing strong organic and inorganic growth in our plant-based business. As previously communicated, our interest in brands is to allow the acceleration of innovation by giving us platforms to pursue emerging or niche communities,” said Joe Ennen, CEO of SunOpta, in a release. “These two brands are prefect examples of niche brands that complement, but do not directly compete with, our vitally important co-manufactured partners. Since SunOpta has been manufacturing these brands for years, when this opportunity presented itself it was an obvious fit for us to own these brands.”

SunOpta revealed plans in February to increase capacity at its Allentown, PA plant-based foods production facility.

Powder & Bulk Solids  reported earlier this year that consumer packaged goods holding firm Post Holdings entered into a new partnership to expand distribution of Hungry Planet Inc.’s plant-based meat products. Food and beverage giant PepsiCo and plant-based products maker Beyond Meat Inc. recently announced the formation of a new joint venture (JV), The PLANeT Partnership LLC, in late January to develop, manufacture and sell snacks and drinks produced with plant-based protein.