The Hain Celestial Group Inc. has completed its acquisition of That's How We Roll, the maker of ParmCrisps and Thinsters, from Clearlake Capital Group.
These two fast-growing brands offering simple and delicious, better-for-you snacks. The total purchase price was approximately $259 million in cash, subject to an adjustment for working capital.
"ParmCrisps and Thinsters are great additions to Hain's growing portfolio of better-for-you snacking brands, and we are excited to get to work with That's How We Roll's talented and innovative team," said Mark Schiller, president and chief executive officer of Hain.
After Schiller became president and CEO of Hain in November 2018, he began reorganizing the company and selling off brands that weren't very profitable. The company also began innovating new products that have been big sellers.
In September 2020, Schiller said that virtually every brand was, at that time, profitable.
For the first quarter of 2022, which ended Sept. 30, adjusted net sales worldwide were flat compared to Q1 FY2021 and up 10% compared with Q1 FY2020, which was before the COVID-19 pandemic reached North America.
ParmCrisps and Thinsters are better-for-you brands composed of simple ingredients that consumers can find in their kitchens.
ParmCrisps are gluten free, sugar free, high protein, low carb cheese crisps and snack mixes. They are available in original, jalapeño, sesame, pizza, cheddar cheese, and sour cream and onion flavors.
Thinsters are crispy thin cookies made from high-quality, non-GMO ingredients. They have no artificial flavors, colors or preservatives; no corn syrup; no hydrogenated oil; and are peanut free. They come in chocolate chip, toasted coconut, vanilla bean, key lime pie, brownie batter and Meyer lemon flavors.
Hain purchased Sensible Portions snack brand from Clearlake Capital Group in 2010.
Source: The Hain Celestial Group