Hain acquires yogurt company 3 Greek Gods

Hain Celestial Group acquired Mountlake Terrace-based 3 Greek Gods on Friday for an undisclosed amount. The Greek-style yogurt company had sales of more than $10 million in 2009, according to a news release.

Founders Stephanos Margaritis, Steve Tselios and Basel Nassar will join Hain as general managers, reporting to Hain Celestial United States CEO John Carroll.

Hain is a publicly traded company headquartered in Melville, N.Y., and sells Celestial Seasonings, WestSoy, MaraNatha, Spectrum Naturals and other natural and organic brands.

The sale is expected to add to Hain's profits immediately.

The owners of 3 Greek Gods made hummus and dip until 2004, when Andy Haggen, the grandson of the founders of the Haggen grocery chain, approached them about making Greek yogurt, which he wanted to sell in his stores.

They switched products and borrowed money to get through a challenging time when the company could barely afford to make yogurt as fast as it was being ordered. (It paid co-packers in Washington, California and Wisconsin to make yogurt to its specifications.)

The three founders didn't draw paychecks until 2006.

Melissa Allison: 206-464-3312 or mallison@seattletimes.com