LAKE 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.
Mark 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."
About 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.
Safe Harbor Statement
Certain statements contained in
this press release constitute "forward-looking statements" within
the meaning of federal securities laws, including the Private
Securities Litigation Reform Act of 1995. Forward-looking
statements are predictions based on expectations and projections
about future events and are not statements of historical fact. You
can identify forward-looking statements by the use of
forward-looking terminology such as "plan", "continue", "expect",
"anticipate", "intend", "predict", "project", "estimate", "likely",
"believe", "might", "seek", "may", "will", "remain", "potential",
"can", "should", "could", "future" and similar expressions, or the
negative of those expressions, or similar words or phrases that are
predictions of or indicate future events or trends and that do not
relate solely to historical matters. You can also identify
forward-looking statements by discussions of the Company's strategy
and future performance.
Forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause the actual results,
levels of activity, performance or achievements of the Company, or
industry results, to be materially different from any future
results, levels of activity, performance or achievements expressed
or implied by such forward-looking statements, and you should not
rely on them as predictions of future events. Forward-looking
statements depend on assumptions, data or methods that may be
incorrect or imprecise and may not be able to be realized. We do
not guarantee that the transactions and events described will
happen as described (or that they will happen at all). Such risks
include, among others, the risks detailed from time-to-time in the
Company's reports filed with the United States Securities and
Exchange Commission, including our most recent Annual Report on
Form 10-K and our subsequent reports on Form 10-Q. As a result of
such risks and other factors, the Company cannot provide any
assurance regarding future results, levels of activity and
achievements of the Company, and neither the Company nor any person
assumes responsibility for the accuracy and completeness of these
statements. All forward-looking statements contained herein apply
as of the date hereof and, except as required by applicable law,
the Company disclaims any obligation to publicly update or revise
any forward-looking statement to reflect changes in underlying
assumptions or factors or new methods, future events or other
changes.
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SOURCE The Hain Celestial Group, Inc.