Business
Hain Celestial Completes Strategic Sale of North America Non-Dairy Beverages Brands, Dream® and Westsoy®
Ongoing Transformation Efforts Continue to Yield Benefits to Growth Profile LAKE SUCCESS, N.Y., April 15, 2021 /PRNewswire/ -- The Hain Celestial Group, Inc.
About this update from The Hain Celestial Group, Inc.
[{"type":"text","content":"Ongoing Transformation Efforts Continue to Yield Benefits to Growth Profile\n\n\nLAKE SUCCESS, N.Y., April 15, 2021 /PRNewswire/ -- The Hain Celestial Group, Inc. (Nasdaq: HAIN) (\"Hain Celestial\" or the \"Company\"), a leading organic and natural products company with operations in North America, Europe, Asia and the Middle East providing consumers with A Healthier Way of Life™, today announced that it has completed the divestiture of its North America non-dairy beverages brands, Dream® and Westsoy®, to SunOpta Inc., for $33 million, subject to customary post-closing adjustments. \n\n \n \n \n \n \n \n\n \nMark L. Schiller, Hain Celestial's President and Chief Executive Officer, commented, \"With today's announcement and the strategic sale of our North America non-dairy beverages business to SunOpta, we provide the market with the latest example of what has been an ongoing transformation of our brand portfolio. We considered this business to be non-core within our North American business, and as such, this divestiture fully aligns with both our portfolio simplification process and prioritization efforts of our Get Bigger brands. Additionally, this transaction improves our growth profile without impacting the profit margin for the remaining Hain Celestial business, providing us with increased confidence in our ability to continue to enhance shareholder returns over the long-term.\" \nAbout The Hain Celestial Group, Inc. The Hain Celestial Group (Nasdaq: HAIN), headquartered in Lake Success, NY, is a leading organic and natural products company with operations in North America, Europe, Asia and the Middle East. Hain Celestial participates in many natural categories with well-known brands that include Celestial Seasonings®, Clarks™, Cully & Sully®, Earth's Best®, Ella's Kitchen®, Farmhouse Fare™, Frank Cooper's®, GG UniqueFiber®, Gale's®, Garden of Eatin'®, Hain Pure Foods®, Hartley's®, Health Valley®, Imagine®, Joya®, Lima®, Linda McCartney's™ (under license), MaraNatha®, Natumi®, New Covent Garden Soup Co.®, Robertson's®, Sensible Portions®, Spectrum®, Sun-Pat®, Terra®, The Greek Gods®, William's™, Yorkshire Provender® and Yves Veggie Cuisine®. The Company's personal care products are marketed under the Alba Botanica®, Avalon Organics®, Earth's Best®, JASON®, Live Clean®, One Step® and Queen Helene® brands. \nSafe Harbor Statem...