USA -Hain Celestial Group has officially sold its ParmCrisps brand to Our Home, an independent snacks company known for recently acquiring Pop Secret popcorn.

This strategic move, announced on September 3, 2024, allows Hain to refine its product offerings and streamline its supply chain.

The financial details of the transaction remain undisclosed, but Hain intends to use the proceeds to reduce its existing debt.

Based in Hoboken, New Jersey, Hain Celestial acquired ParmCrisps in 2021 as part of a more significant US$259 million deal for the company ‘That’s How We Roll’.

However, the acquisition has proven challenging, with Hain reporting a substantial distribution loss and a decline in the keto diet market.

Hain’s President and CEO, Wendy Davidson, stated, “By divesting ParmCrisps, we can continue to prioritize driving market reach and category scale of our core better-for-you brands.”

This divestiture aligns with Hain’s ongoing transformation plan, “Hain Reimagined,” which focuses on enhancing growth across key product categories, including snacks, baby foods, beverages, meal prep, and personal care.

The ParmCrisps brand, known for its high-protein and low-carb cheese crisps, was launched in 2017 and has gained traction among health-conscious consumers.

Alongside the brand, Our Home will acquire ParmCrisps’ production facility in York, Pennsylvania. This acquisition marks another step in Our Home’s expansion strategy, which has seen the company actively build its snacking portfolio through recent purchases.

In addition to ParmCrisps, Our Home acquired Pop Secret popcorn from Campbell Soup just a week before this deal.

Aaron Greenwald, CEO of Our Home, expressed enthusiasm about the acquisition, stating, “We are very excited to have the ParmCrisps manufacturing family join our team. Combining our Sonoma Creamery and ParmCrisps talent will drive tremendous IP and knowledge sharing, benefitting both brands, our retail partners, and most importantly, our consumers.”

This sentiment reflects Our Home’s commitment to enhancing its product offerings and operational capabilities.

Hain’s decision to sell ParmCrisps is part of a broader strategy to focus on its core brands and improve operational efficiency.

The company recently reported a decline in net sales for the fourth quarter, totalling US$419 million, a 6% drop compared to last year. Despite this, Hain managed to improve margins and reduce its net loss.

Davidson noted, “This transaction further simplifies our better-for-you portfolio and streamlines our supply chain for operational efficiency and margin expansion.”

As Hain moves forward, it aims to concentrate on commercial execution and leverage its scale to expand its market reach.

The company has already taken steps to reduce its manufacturing footprint and co-manufacturer network, which aligns with its goal of optimising operations.

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