Health and wellness company Hain Celestial has completed the sale of the ParmCrisps snack brand to independent wholesome snacks company, Our Home.
The divestiture is part of Hain Celestial's efforts to optimise its better-for-you portfolio and streamline its supply chain for greater operational efficiency and margin expansion.
The Cully & Sully maker will use the proceeds from the transaction to pay company debt.
Wendy Davidson, Hain Celestial Group president and CEO, stated, "By divesting ParmCrisps, we can continue to prioritise driving market reach and category scale of our core better-for-you brands."
"This transaction further simplifies our better-for-you portfolio and streamlines our supply chain for operational efficiency and margin expansion."
Transformation Plan
In May 2024, Hain Celestial announced the implementation of category-wide SKU reductions, simplifying its operating footprint, and streamlining its co-manufacturing network as part of its multi-year transformation plan – Hain Reimagined.
The company plans to remove 62% of underperforming SKUs in a phased manner across the portfolio as it seeks to focus on products that drive growth and margin expansion.
These efforts included the sale of the cookie brand Thinsters and the Queen Helene personal care brand, along with sub-category exits across its product portfolio.
The sale of ParmCrisps will help Hain Celestial in reducing its manufacturing footprint and co-manufacturer network while also streamlining its vendor base.
In its financial year 2025, the company seeks to focus on commercial execution and leveraging the benefits of its scale model to expand its reach and accelerate top-and-bottom-line growth to deliver long-term shareholder value.
Recently, health and wellness company Hain Celestial has appointed Alison Lewis to its board of directors, effective 1 September 2024.
