LAKE SUCCESS, N.Y.,
Oct. 8, 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 divestitures of the
Arrowhead Mills® and SunSpire® brands to Hometown Food Company, a
wholly-owned portfolio company of Brynwood Partners VII L.P. and
Brynwood Partners VIII L.P., for $15
million subject to customary post-closing adjustments. The
transaction includes the Arrowhead Mills manufacturing facility in
Hereford, TX and its employees.
The transaction will have a negligible impact on the ongoing EBITDA
of Hain Celestial.
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"We are pleased to complete the strategic divestitures of the
Arrowhead Mills and SunSpire brands demonstrating the consistent
execution of our stated transformational plan to reduce complexity
and simplify the brand portfolio," commented Mark L. Schiller, Hain Celestial's President and
Chief Executive Officer. "We believe the Arrowhead Mills and
SunSpire brands will thrive under new ownership as we focus our
future initiatives and investments on areas of our business that
better leverage our core competencies to improve our margins,
profitability and cash flow generation."
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®, 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®, Terra®, The Greek Gods®, 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.
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. Such factors include,
among others, the risks detailed from time to time in the Company's
reports filed with the United States Securities and Exchange
Commission. 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 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.