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A-Brands

Hain Celestial Acquires ParmCrisps And Thinsters

Hain Celestial has agreed to acquire That’s How We Roll, the producer and marketer of ParmCrisps and Thinsters.

The acquisition strengthens Hain’s position in the snacking category and represents a significant step in establishing the company as a high-growth, healthy food company at a global level.

ParmCrisps And Thinsters

ParmCrisps and Thinsters are made of simple ingredients that consumers can find in their kitchen, with a strong emphasis on health.

ParmCrisps are high-protein, low carb cheese crisps and snack mixes.

Thinsters are crispy thin cookies made from high-quality, non-GMO ingredients.

Both products are available in a variety of flavours

Mark Schiller, president and CEO of Hain Celestial, said, "ParmCrisps and Thinsters are optimally positioned to benefit from consumer preferences for clean-label and high-protein snacks.

"Both brands have created loyal followings by being true to their unique value propositions. We are excited to welcome them to the Hain family and support the brands’ next chapter as part of our growing snacking platform."

"We are absolutely thrilled to be joining the Hain family,” said Sammy Kestenbaum, CEO of That’s How We Roll and added, "We believe the wealth of experience and resources of the team at Hain will allow us to reach even more consumers with our simple and delicious, better-for-you snacks."

Acquisition Details

The acquisition is valued at approximately $259 million, subject to an adjustment for working capital, and will be financed with borrowings under Hain Celestial’s revolving credit facility.

That’s How We Roll generated approximately $108 million of net sales for the 12 months ended 30 September 2021 and is expected to generate sales growth in the mid-teens in the calendar year 2022.

The acquisition is expected to be slightly accretive to Hain Celestial’s adjusted EBITDA in fiscal year 2022, after making investments in the target brands, and accretive in fiscal year 2023 with margins in line with the group's existing snacks business.

The acquisition is subject to customary closing conditions, including regulatory approvals, and is expected to close by the end of calendar year 2021.

BofA Securities served as Hain Celestial’s financial advisor. Venable LLP acted as the snacking group's legal advisor.

© 2021 European Supermarket Magazine. Article by Conor Farrelly. For more A-Brands news, click here. Click subscribe to sign up to ESM: European Supermarket Magazine.

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