LAKE SUCCESS, N.Y.,
May 6, 2019 /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 the
WestSoy® tofu, seitan and tempeh businesses to Keystone Natural
Holdings, a portfolio company of Keystone Capital focusing on plant
based food. The strategic divestiture did not include the
WestSoy® plant-based beverage business, which has been retained by
Hain Celestial. The terms of the transaction were not
disclosed.
"We are pleased to complete the strategic divestiture of the
WestSoy tofu, seitan and tempeh businesses," commented
Mark L. Schiller, Hain Celestial's
President and Chief Executive Officer. "This brand
divestiture is in-line with the core objectives of our
transformational strategic plan to reduce complexity and streamline
our portfolio of brands to drive sustainable growth and shareholder
value. We believe the WestSoy tofu, seitan and tempeh
business, while not core to our strategy, will be a strong
performer in the hands of an owner who is committed in this
category and will continue to deliver innovative high-quality
products to our customers."
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 Almond Dream®, Arrowhead Mills®, Bearitos®,
Better Bean®, BluePrint®, Casbah®, Celestial Seasonings®, Clarks™,
Coconut Dream®, Cully & Sully®, Danival®, DeBoles®, Earth's
Best®, Ella's Kitchen®, Europe's
Best®, Farmhouse Fare™, Frank
Cooper's®, Gale's®, Garden of Eatin'®, GG UniqueFiber™, Hain
Pure Foods®, Hartley's®, Health Valley®, Imagine™, Johnson's Juice
Co.™, Joya®, Lima®, Linda McCartney® (under license), MaraNatha®,
Mary Berry (under license), Natumi®,
New Covent Garden Soup Co.®, Orchard House®, Rice Dream®,
Robertson's®, Rudi's Gluten-Free Bakery™, Rudi's Organic Bakery®,
Sensible Portions®, Spectrum® Organics, Soy Dream®, Sun-Pat®,
Sunripe®, SunSpire®, Terra®, The Greek Gods®, Tilda®, Walnut
Acres®, WestSoy®, Yorkshire Provender®, Yves Veggie Cuisine® and
William's™. The Company's personal care products are marketed under
the Alba Botanica®, Avalon Organics®, Earth's Best®, JASON®, Live
Clean® 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
potential divestiture of its Hain Pure Protein business.
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
factors, include, among others, the Company's beliefs or
expectations relating to the impact of competitive products,
changes to the competitive environment, changes to consumer
preferences, our ability to manage our supply chain effectively,
changes in raw materials, freight, commodity costs and fuel,
consolidation of customers, reliance on independent distributors,
general economic and financial market conditions, risks associated
with our international sales and operations, our ability to execute
and realize cost savings initiatives, including, but not limited
to, cost reduction initiatives under Project Terra and SKU
rationalization plans, our ability to identify and complete
acquisitions or divestitures and integrate acquisitions, the
availability of organic and natural ingredients, the reputation of
our brands and the other risks detailed from time-to-time in the
Company's reports filed with the United States Securities and
Exchange Commission, including the Annual Report on Form 10-K for
the fiscal year ended June 30, 2018,
and our quarterly reports. As a result of the foregoing 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 or as of
the date they were made and, except as required by applicable law,
the Company disclaims any obligation to publicly update or revise
any forward-looking statement to reflects changes in underlying
assumptions or factors of new methods, future events or other
changes.
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SOURCE The Hain Celestial Group, Inc.