Hoboken / NJ. (hc) The Hain Celestial Group Inc., a leading global health and wellness company, has completed the sale of its «Thinsters» cookie business to J+J Snack Foods. The all-cash transaction that closed on April 08, 2024, further optimizes the company’s portfolio and will be used to pay down company debt. «Divesting the brand further streamlines our supply chain network and strengthens our ability to focus our efforts on driving greater reach and scale of our core better-for-you brands across our categories of focus,» said Wendy Davidson, Hain Celestial President and CEO. «We are pleased to reach this agreement with J+J Snack Foods and are confident that the business will thrive under their leadership.»
In September 2023 Hain introduced the company’s multi-year transformation plan to pivot the business to growth. The strategy is grounded in executing four core pillars: Focus, Grow, Build and Fuel. The «Thinsters» divestiture contributes to the Focus Pillar as it further refines Hain’s uniquely positioned portfolio of better-for-you brands across five growth categories: snacks, baby + kids food, beverages, meal preparation and personal care. The company will continue to identify opportunities to progress its Focus Pillar efforts through operating model optimization and aligning its footprint in five core geographies, the U.S., Canada, UK, Ireland and Western Europe.
