Hain Celestial Completes Strategic Sale of North America Non-Dairy Beverages Brands, Dream® and Westsoy®
The Hain Celestial Group (NASDAQ: HAIN) has completed the sale of its North America non-dairy beverages brands, Dream® and Westsoy®, to SunOpta Inc. for $33 million, subject to adjustments. This divestiture aligns with Hain's strategy to streamline its brand portfolio, focusing on core areas and enhancing growth potential. CEO Mark L. Schiller emphasized that this transaction will not negatively impact profit margins for remaining products and aims to boost shareholder returns over the long term.
- Divestiture of non-core brands strengthens focus on core business.
- Transaction valued at $33 million enhances financial flexibility.
- Expected to improve growth profile without impacting profit margins.
- None.
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
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.
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