Hoboken-based Hain Celestial has reached a definitive agreement to sell its international business to global private equity firm AURELIUS for an estimated $323 million in cash, the company announced as part of its ongoing strategic review.
Net proceeds from the transaction are expected to range from $305 million to $310 million. Hain said the proceeds would be used to reduce company debt if the transaction closes.
The sale includes the majority of Hain’s international operations and brands including 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.
Alison Lewis, Hain Celestial’s president and CEO, said the proposed sale would help the company narrow its portfolio and focus on its North American business.
“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,” Lewis said. “The resulting North American business would feature leading brands in attractive categories with a more streamlined operating model and greater focus on core growth oppo...