Hain Celestial Group (HAIN), a packaged food company, Monday announced that it has agreed to sell its North American Snacks business which includes Garden Veggie Snacks, Terra chips and Garden of Eatin' snacks, to Snackruptors Inc., a Canadian family-owned snacks manufacturer, for $115 million in cash.
The company, following this deal, hopes to move forward with a simplified portfolio in North America focused on core categories and markets with stronger margin and cash flow profiles.
Hain Celestial's North America snacks portfolio represented 22% of the company's net sales in fiscal 2025 and 38% of the North America segment net sales with negligible EBITDA contribution over the last 12 months, the company said in a statement.
Proceeds from the transaction will be used reduce debt, strengthening the company's financial position and leverage profile, commented Alison Lewis, Hain Celestials CEO.
Post this deal, the company categories across North America will include Celestial Seasonings teas, The Greek Gods yogurt, Earth's Best Organic baby and kids foods and Spectrum Organic culinary oils.
The transaction is expected to close by February 28.
In pre-market activity, HAIN shares were trading at $1.3, up 7.44% on the Nasdaq.
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