Hain Celestial to relocate headquarters, open innovation center

Hain Celestial Group will relocate its headquarters to Hoboken, New Jersey, from Lake Success, New York, later this year, the company announced Thursday.

Hain Celestial manufactures better-for-you foods and beverages including Celestial Seasonings, Terra, Garden of Eatin', Sensible Portions, Yves Veggie Cuisine, Thinsters and, in the United Kingdom, Linda McCartney's vegan and vegetarian meals. The company sells its snacks, baby/kids, beverages, meal preparation and personal care products in more than 75 countries.

The new offices will be in the Waterfront Corporate Center, which is LEED Gold Certified and Energy Star Certified, with a view of New York City and the Hudson River.

The company also

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"Hain's hub and spoke work model enables broader team collaboration and greater connectivity as a global enterprise," Hain Celestial Group CEO Wendy Davidson said in a released statement. "It also provides us the ability to recruit the very best talent, regardless of where they are located."

No employees are being asked to relocate to Hoboken, a spokeswoman said. Because Hain uses an agile working model, teams can gather at regional offices and plants or at the headquarters as needed. Therefore, the number of people working at the Hoboken offices will vary.

Hain Celestial also will establish what it is calling the Innovation Experience Center in Hoboken; it's not clear if that center will be located with the headquarters. At the center, Hain employees, customers and consumers can explore consumer insights and create opportunities. Research and development laboratories will continue to operate at manufacturing facilities, however.

"Our headquarters decision is among the early actions we are taking to support our multiyear transformation strategy, called 'Hain Reimagined,' which we will unveil at our Investor Day on September 13," added Davidson.

Davidson joined Hain Celestial as CEO on Jan. 1. Hain's stock dropped to a new 52-week low of $11.28 Thursday morning, but closed at $11.71.

Source: Hain Celestial Group