HOBOKEN,
N.J., April 9, 2024 /PRNewswire/ -- The Hain
Celestial Group (Nasdaq: HAIN), a leading global health and
wellness company whose purpose is to inspire healthier living
through better-for-you brands, announced today that it has
completed the sale of its Thinsters® cookie business to J&J
Snack Foods. The all-cash transaction that closed on April 8, 2024, further optimizes the company's
better-for-you 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," said 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."
In September 2023 Hain introduced
Hain Reimagined, the company's multi-year transformation
plan to pivot the business to growth. The strategy is grounded in
executing four core pillars: Focus, Grow, Build and Fuel. The
Thinsters divestiture contributes to the Focus Pillar as it further
refines Hain's uniquely positioned portfolio of better-for-you
brands across five growth categories: snacks, baby & kids food,
beverages, meal preparation and personal care. The company will
continue to identify opportunities to progress its Focus Pillar
efforts through operating model optimization and aligning its
footprint in five core geographies, the U.S., Canada, UK, Ireland and Western
Europe.
About The Hain Celestial Group
Hain Celestial
Group is a leading health and wellness company whose purpose is to
inspire healthier living for people, communities and the planet
through better-for-you brands. For more than 30 years, our
portfolio of beloved brands has intentionally focused on delivering
nutrition and well-being that positively impacts today and
tomorrow. Headquartered in Hoboken,
N.J., Hain Celestial's products across snacks, baby/kids,
beverages, meal preparation, and personal care, are marketed and
sold in over 75 countries around the world. Our leading brands
include Garden Veggie™ snacks, Terra® chips, Garden of Eatin'®
snacks, Earth's Best® and Ella's Kitchen® baby and kids foods,
Celestial Seasonings® teas, Joya® and Natumi® plant-based
beverages, Greek Gods® yogurt, Cully & Sully®, Imagine® and New
Covent Garden® soups, Yves® and Linda
McCartney's® (under license) meat-free, and Alba Botanica®
natural sun care, among others. For more information, visit
hain.com and LinkedIn.
Forward-Looking Statements
This press release contains
forward-looking statements within the meaning of safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.
Such statements involve risks, uncertainties, and assumptions. If
the risks or uncertainties ever materialize or the assumptions
prove incorrect, our results may differ materially from those
expressed or implied by such forward-looking statements. The words
"will" "expect," "aim," "may," "should," "plan," "intend,"
"potential" and similar expressions are intended to identify such
forward-looking statements. Forward-looking statements include,
among other things, our beliefs or expectations relating to our
future performance, results of operations and financial condition;
our strategic initiatives; and our business strategy.
The risks and uncertainties that may cause actual results to
differ materially from forward-looking statements are described in
our most recent Annual Report on Form 10-K and our other filings
from time to time with the U.S. Securities and Exchange
Commission.
We undertake no obligation to update forward-looking statements
to reflect actual results or changes in assumptions or
circumstances, except as required by applicable law.
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SOURCE The Hain Celestial Group