Hain Celestial, the health and wellness company, has entered into a definitive agreement to sell the majority of its business outside North America to global private equity firm Aurelius for an estimated $323 million in cash.
Net proceeds from the transaction are expected to range between $305 million and $310 million, which the company plans to use to reduce its debt upon closing.
The sale includes brands such as Ella’s Kitchen baby and kids foods, Joya and Natumi plant-based beverages, Hartley’s jelly, Linda McCartney Foods, Cully & Sully, Yorkshire Provender and New Covent Garden soups.
Commenting on the deal, Hain Celestial president & CEO Alison Lewis said: “Completing the transaction announced today would advance our strategy to simplify our portfolio and enable us to focus our resources on further reducing the Company’s debt. The resulting North American business would feature leading brands in attractive categories with a more streamlined operating model and greater focus on core growth opportunities.”
Following the transaction, Hain Celestial’s North American portfolio will feature Celestial Seasonings teas, The Greek Gods yogurt and Earth’s Best Organic, alongside Spectrum Organic cooking oils, MaraNatha nut butters and Imagine broths.
The agreement remains subject to closing conditions, including regulatory approvals and an amendment to Hain Celestial’s credit agreement to extend its maturity date beyond the 22nd December 2026.
Subject to satisfaction of these conditions, the transaction is expected to close in Hain Celestial’s fiscal second quarter ending 31st December 2026.
Source: Hain Celestial (via GlobeNewswire)
