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.
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