Hain Celestial snack business sale completed
The BFY-focused company first announced the sale to Snackruptors in February.
Courtesy of Hain Celestial
Hain Celestial Group, a global health and wellness company with a stable of better-for-you brands, announced that it has completed the previously announced sale of its North American Snacks business, including Garden Veggie Snacks, Terra chips, and Garden of Eatin' snacks, to Snackruptors Inc., a Canadian, family-owned snacks manufacturer.
Proceeds from the transaction will be used to reduce debt, strengthening the company’s financial position and leverage profile.
According to Hain representatives, the divestiture represents an important first step as the company sharpens its focus and advances a simplified North American portfolio centered on core categories with stronger margin and cash flow profiles. The resulting portfolio and financial profile reportedly will support increased investment over time in the company’s North American better-for-you brands across its flagship categories of yogurt, tea, and baby and kids foods.
Going forward, Hain’s global brands will include Celestial Seasonings teas, The Greek Gods yogurt, Earth's Best Organic and Ella's Kitchen baby and kids foods, Joya and Natumi plant-based beverages, Hartley’s jelly, as well as Cully & Sully, Yorkshire Provender, and New Covent Garden soups, among others.
Related: Garden Veggie Snacks releases pickle puffs, new straws
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