09 October 2019 | News
The divestitures of the Arrowhead Mills® and SunSpire® brands has completed for $15 million
The Hain Celestial Group, 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™, 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.
"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."