The Hain Celestial Group continued to downsize, completing its sale of the Arrowhead Mills and SunSpire brands to Hometown Food Company for $15 million.
Lake Success-based Hain Celestial sold the brands, including the Arrowhead Mills factory in Hereford, TX, to the company owned by Brynwood Partners VII L.P. and Brynwood Partners VIII L.P.
CEO Mark Schiller called these “strategic divestitures” as Hain Celestial seeks to “reduce complexity and simplify the brand portfolio.”
He said the company wants to focus on areas of its “business that better leverage our core competencies to improve our margins, profitability and cash flow generation.”
The Hain Celestial Group makes organic and natural foods sold under a wide range of brands from Almond Dream to Celestial Seasonings, Earth’s Best to Ella’s Kitchen and many more.
