12.14.21
Hain Celestial, the food and beverages company with brands including Terra, Sleepytime Tea, Garden Veggie Chips, Alba Botanica, Greek Gods Greek Yogurt, and more, recently entered into an agreement to purchase snack brands ParmCrisps and Thinsters from Clearlake Capital Group.
The acquisition deepens Hain’s position in the snacking category, and represents a significant step in establishing Hain’s growth capacity in the healthy snacking segment, the company reports. ParmCrisps are a keto-friendly chip made from 100% aged parmesan cheese, and Thinsters are crispy thin cookies made from non-GMO ingredients, with each product available in a variety of flavors.
“ParmCrisps and Thinsters are optimally positioned to benefit from consumers preferences for clean-label and high-protein snacks,” Mark Schiller, president and CEO of Hain, said, noting that both brands have garnered loyal followings due to their consistent value as healthier alternatives to conventional snacks. “We are excited to welcome them to the Hain family and support the brands’ next chapter as part of our growing snacking platform.”
“We have been proud to sponsor ParmCrisps and Thinsters to execute on a vision of scaling a better-for-you snack platform to meet the demands of today’s health-conscious, informed consumers,” José E. Feliciano, cofounder and managing partner, and Arta Tabaee, managing director of Clearlake, wrote. “Given our previous experience with Hain Celestial, who acquired our former portfolio company World Gourmet/ Sensible Portions in 2010, we believe ParmCrisps and Thinsters have found a perfect home, and we look forward to the brands’ continued success under Hain.”
Hain reports that the total purchase price of the two brands will be approximately $259 million, subject to an adjustment for working capital. That’s How We Roll (the portfolio company behind the two brands) generated approximately $108 million of net sales for the 12 months ending September 30, 2021.
The acquisition deepens Hain’s position in the snacking category, and represents a significant step in establishing Hain’s growth capacity in the healthy snacking segment, the company reports. ParmCrisps are a keto-friendly chip made from 100% aged parmesan cheese, and Thinsters are crispy thin cookies made from non-GMO ingredients, with each product available in a variety of flavors.
“ParmCrisps and Thinsters are optimally positioned to benefit from consumers preferences for clean-label and high-protein snacks,” Mark Schiller, president and CEO of Hain, said, noting that both brands have garnered loyal followings due to their consistent value as healthier alternatives to conventional snacks. “We are excited to welcome them to the Hain family and support the brands’ next chapter as part of our growing snacking platform.”
“We have been proud to sponsor ParmCrisps and Thinsters to execute on a vision of scaling a better-for-you snack platform to meet the demands of today’s health-conscious, informed consumers,” José E. Feliciano, cofounder and managing partner, and Arta Tabaee, managing director of Clearlake, wrote. “Given our previous experience with Hain Celestial, who acquired our former portfolio company World Gourmet/ Sensible Portions in 2010, we believe ParmCrisps and Thinsters have found a perfect home, and we look forward to the brands’ continued success under Hain.”
Hain reports that the total purchase price of the two brands will be approximately $259 million, subject to an adjustment for working capital. That’s How We Roll (the portfolio company behind the two brands) generated approximately $108 million of net sales for the 12 months ending September 30, 2021.
