The Hain Celestial Group, owner of several better-for-you brands, announced it has completed the sale of its Thinsters cookie business to J&J Snack Foods. According to Hain representatives, the all-cash transaction that closed on April 8 optimizes the company's BFY portfolio and will be used to pay down company debt.
"Divesting Thinsters further streamlines our supply chain network and strengthens our ability to focus our efforts on driving greater reach and scale of our core better-for-you brands across our categories of focus," says Wendy Davidson, Hain Celestial president and CEO. "We are pleased to reach this agreement with J&J Snack Foods and are confident that the business will thrive under their leadership."