Lake Success, NY—The Hain Celestial Group, Inc. announced in a press release that it has sold Arrowhead Mills and SunSpire to Hometown Food Company, a wholly-owned portfolio company of Brynwood Partners VII L.P. and Brynwood Partners VIII L.P., for $15 million, subject to customary post-closing adjustments.
The transaction includes the Arrowhead Mills manufacturing facility in Hereford, TX, and its employees.
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“We are pleased to complete the strategic divestitures of the Arrowhead Mills and SunSpire brands demonstrating the consistent execution of our stated transformational plan to reduce complexity and simplify the brand portfolio,” commented Mark L. Schiller, Hain Celestial’s President and Chief Executive Officer. “We believe the Arrowhead Mills and SunSpire brands will thrive under new ownership as we focus our future initiatives and investments on areas of our business that better leverage our core competencies to improve our margins, profitability and cash flow generation.”
In a press release from Hometown Food Company, Henk Hartong, Chairman and CEO of Brynwood Partners, said: “We are delighted to announce the acquisition of the Arrowhead Mills and SunSpire brands into Hometown Foods. Arrowhead Mills and SunSpire were pioneers in the organic, non-GMO ingredients space and we are excited to add these tremendous brands to our portfolio. This acquisition strengthens our industry position by adding improved capabilities in the better-for-you space that we plan to extend into our other categories.”