HOBOKEN,
N.J., Sept. 3, 2024 /PRNewswire/ -- 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 ParmCrisps® snack brand to
independent wholesome snacks company, Our Home. The transaction
further optimizes Hain's better-for-you portfolio and streamlines
its supply chain to drive greater operational efficiency and margin
expansion. Proceeds from the sale will be used to pay down company
debt.
"By divesting ParmCrisps, we can continue to prioritize driving
market reach and category scale of our core better-for-you brands,"
said Wendy Davidson, Hain Celestial
Group President and CEO. "This transaction further simplifies our
better-for-you portfolio and streamlines our supply chain for
operational efficiency and margin expansion."
Earlier this year, Hain announced strategic actions to
advance the company's Hain Reimagined transformation by
focusing on accelerating growth in key brands across snacks, baby
and kids food, beverages, meal prep and personal care, and
simplifying its global operating footprint. These efforts have
included the sale of cookie brand Thinsters® and the
Queen Helene® personal care brand, along with
sub-category exits across its product portfolio.
With the sale of ParmCrisps, Hain will reduce its manufacturing
footprint and co-manufacturer network while also streamlining its
vendor base. The company recently released its Q4 and Full Year
2024 earnings and reported delivery of its updated guidance, gross
margin expansion, and improvement in debt leverage. In Fiscal 2025,
the company is focused on commercial execution and leveraging the
benefits of its scale model to expand reach and accelerate top- and
bottom-line growth to deliver long-term shareholder value.
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, Hain 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 70 countries around
the world. Our leading brands include Garden Veggie Snacks™,
Terra® chips, Garden of Eatin'® snacks,
Hartley's® Jelly, 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®, Yorkshire
Provender®, New Covent Garden® and
Imagine® soups, Yves® and Linda McCartney's® (under license)
meat-free, and Avalon Organics® personal care, among
others. For more information, visit www.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
"believe," "expect," "anticipate," "may," "should," "plan,"
"intend," "potential," "will" 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