Business
Hain Celestial Announces Agreement to Acquire High-Growth, Better-for-You Snacking Brands ParmCrisps® and Thinsters®
LAKE SUCCESS, N.Y., Dec. 13, 2021 (GLOBE NEWSWIRE) -- The Hain Celestial Group, Inc. (Nasdaq: HAIN) (“Hain Celestial,” “Hain” or the “Company”) today
About this update from The Hain Celestial Group, Inc.
[{"type":"text","content":"LAKE SUCCESS, N.Y., Dec. 13, 2021 (GLOBE NEWSWIRE) -- The Hain Celestial Group, Inc. (Nasdaq: HAIN) (“Hain Celestial,” “Hain” or the “Company”) today announced it has entered into an agreement to acquire That’s How We Roll, the producer and marketer of ParmCrisps® and Thinsters®, two fast-growing, better-for-you brands offering delicious, convenient products that are consumer favorites from Clearlake Capital Group. The acquisition deepens Hain’s position in the snacking category and represents a significant step in establishing Hain as a high-growth, global healthy food company. With the mission to make the world heathier, tastier and a little more fun, ParmCrisps® and Thinsters® are delicious, better-for-you brands composed of simple ingredients that consumers can find in their kitchen. ParmCrisps® are high-protein, low carb cheese crisps and snack mixes. Thinsters® are crispy thin cookies made from high-quality, non-GMO ingredients. All products are available in a variety of flavors. “ParmCrisps® and Thinsters® are optimally positioned to benefit from consumer preferences for clean-label and high-protein snacks,” said Mark Schiller, President and Chief Executive Officer of Hain. “Both brands have created loyal followings by being true to their unique value propositions. We are excited to welcome them to the Hain family and support the brands’ next chapter as part of our growing snacking platform.” “We are absolutely thrilled to be joining the Hain family,” said Sammy Kestenbaum, CEO of That’s How We Roll. “We believe the wealth of experience and resources of the team at Hain will allow us to reach even more consumers with our simple and delicious, better-for-you snacks.” “We have been proud to sponsor ParmCrisps® and Thinsters® to execute on a vision of scaling a better-for-you snack platform to meet the demands of today’s health conscious, informed consumers,” said José E. Feliciano, Co-Founder and Managing Partner, and Arta Tabaee, Managing Director, of Clearlake Capital Group. “Given our previous experience with Hain Celestial, who acquired our former portfolio company World Gourmet / Sensible Portions in 2010, we believe ParmCrisps® and Thinsters® have found a perfect home, and we look forward to the brands’ continued success under Hain.” The total purchase price is approximately $259 million, subject to an adjustment for ...