Hain Celestial, a North American organic and natural products company, has announced that it has entered into a definitive agreement to sell all of its equity interest in Hain Pure Protein Corporation, which includes the FreeBird and Empire Kosher businesses, to investment fund Aterian Investment Partners for $80 million.
Empire Kosher is a brand of kosher poultry including processed and unprocessed products as well as deli meats. Meanwhile the FreeBird brand comprises natural and organic chicken claimed to be free from antibiotics, added growth hormones and steroids.
Hain Celestial’s divestment of its Hain Pure Protein arm follows the recent disposal of its WestSoy plant-based protein business.
In a press release, Mark L Schiller, Hain Celestial president and CEO said: “We are pleased to have entered into an agreement for the sale of our remaining Hain Pure Protein businesses. This divestiture is another step forward in simplifying our organization aligned with our transformational strategic plan as we aggressively pursue margin enhancing initiatives to fuel long-term sustainable growth and profitability”.
Source: Hain Celestial