Business
Hain Celestial Completes the Sale of Thinsters® Cookie Brand to J&J Snack Foods
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
About this update from The Hain Celestial Group, Inc.
[{"type":"text","content":"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. \n\n \n \n \n \n \n \n\n \n\"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.\"\nIn 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.\nAbout The Hain Celestial GroupHain 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,...