A team of transactional attorneys led by corporate and finance partner Scott Schwartz represented Hain Celestial Group (Nasdaq: HAIN) in the divestitures of its Arrowhead Mills and SunSpire brands to Chicago-based Hometown Food Company for $15 million. The sale includes Arrowhead Mills’ Texas manufacturing facility and its 50 employees.
NY-based Hain is a leading organic and natural products company with operations in North America, Europe, Asia and the Middle East, whose brands include Alba Botanica, DREAM, BluePrint and The Greek Gods. Hometown Food, owner of the Pillsbury, Funfetti and Hungry Jack brands, is an operating subsidiary of Brynwood Partners, a private equity investment firm headquartered in Greenwich, Connecticut.
Both Arrowhead Mills and SunSpire are leading organic brands. While Arrowhead’s products include grain-based foods and ingredients such as flour, cereals and cake mixes, SunSpire is a manufacturer of baking and confectionery chocolates. According to Hain’s president and CEO, the sale is a strategic move for the company to tighten its brand portfolio, focusing future initiatives and investments on areas of business that better leverage core competencies.
Partners David Herbst, Aydin Caginalp, Matthew Dombroski and Sharon Bauman and associates Jessica Wood, Mei Tuggle and Ben Ryzak worked on this transaction.
To learn more, read the press release or coverage by the Chicago Tribune, The Deal and Bloomberg Big Law Business.