Hain Celestial Completes Sale of Westbrae Natural® Brand
December 15 2022 - 4:27PM
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 Westbrae Natural®
brand to Bush Brothers & Company. Details of the transaction
were not disclosed.
Mark L. Schiller, Hain Celestial’s President and
Chief Executive Officer, commented, “In our continuing journey to
simplify the company and focus on the brands and categories with
growth potential in line with our strategic direction, we are
pleased to announce the divestiture of the Westbrae Natural® brand
to Bush Brothers. The divestiture of this non-strategic brand
represents another important step in simplifying our North America
portfolio, while improving our future growth profile, margins and
cash flow. The transaction allows us to focus more resources on
driving distribution and expanding innovation on priority
brands.”
About The Hain Celestial Group,
Inc.The Hain Celestial Group, Inc. (Nasdaq: HAIN) is a
leading organic and natural products company that has been
committed to creating A Healthier Way of Life® since 1993.
Headquartered in Lake Success, NY with operations in North America,
Europe, Asia and the Middle East, Hain Celestial’s food and
beverage brands include Celestial Seasonings®, Clarks™, Cully &
Sully®, Earth’s Best®, Ella’s Kitchen®, Frank Cooper’s®, Garden of
Eatin’®, Hartley’s®, Health Valley®, Imagine®, Joya®, Lima®, Linda
McCartney’s® (under license), MaraNatha®, Natumi®, New Covent
Garden Soup Co.®, ParmCrisps®, Robertson’s®, Rose’s® (under
license), Sensible Portions®, Spectrum®, Sun-Pat®, Terra®, The
Greek Gods®, Thinsters®, Yorkshire Provender® and Yves Veggie
Cuisine®. Hain Celestial’s personal care brands include Alba
Botanica®, Avalon Organics®, JASON®, Live Clean® and Queen Helene®.
For more information, visit hain.com.
Safe Harbor StatementThis 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; our business
strategy; and our brand portfolio.
Risks and uncertainties that may cause actual
results to differ materially from forward-looking statements
include: challenges and uncertainty resulting from the impact of
competition; our ability to manage our supply chain effectively;
input cost inflation, including with respect to freight and other
distribution costs; foreign currency exchange risk; risks arising
from the Russia-Ukraine war; disruption of operations at our
manufacturing facilities; reliance on independent contract
manufacturers; challenges and uncertainty resulting from the
COVID-19 pandemic; changes to consumer preferences; customer
concentration; reliance on independent distributors; the
availability of natural and organic ingredients; risks associated
with operating internationally; risks associated with outsourcing
arrangements; our ability to execute our cost reduction initiatives
and related strategic initiatives; our ability to identify and
complete acquisitions or divestitures and our level of success in
integrating acquisitions; our reliance on independent certification
for a number of our products; the reputation of our Company and our
brands; our ability to use and protect trademarks; general economic
conditions; the United Kingdom’s exit from the European Union;
cybersecurity incidents; disruptions to information technology
systems; the impact of climate change; liabilities, claims or
regulatory change with respect to environmental matters; potential
liability if our products cause illness or physical harm; the
highly regulated environment in which we operate; pending and
future litigation; compliance with data privacy laws; compliance
with our credit agreement; the discontinuation of LIBOR; our
ability to issue preferred stock; the adequacy of our insurance
coverage; impairments in the carrying value of goodwill or other
intangible assets; and other risks and matters 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.
Contacts:Investor Relations:Chris
MandevilleICRhain@icrinc.com
Media:Robin Shallowrobin@robincomm.com
Hain Celestial (NASDAQ:HAIN)
Historical Stock Chart
From May 2024 to Jun 2024
Hain Celestial (NASDAQ:HAIN)
Historical Stock Chart
From Jun 2023 to Jun 2024