Hain Celestial Group continues its mission to become a food-only company with the announcement today of an agreement to acquire the company behind ParmCrisps and Thinsters, two better-for-you snacks.
Hain is buying That’s How We Roll, the manufacturer and marketer of the two brands, from Clearlake Capital Group for $259 million. That’s How We Roll generated approximately $108 million of net sales for the 12 months ended Sept. 30, and is expected to generate mid-teens net sales growth in calendar year 2022.
"The acquisition deepens Hain’s position in the snacking category and represents a significant step in establishing Hain as a high-growth, global healthy food company," the news release said.
ParmCrisps are high-protein, low carb cheese crisps and snack mixes. Thinsters are crispy thin cookies made from non-GMO ingredients. All products are available in a variety of flavors.
Hain announced in September its intention to become a smaller, food-focused company, intending to sell off its personal care businesses. Since Mark Schiller became CEO three years ago, the company has sold or eliminated 23 brands and 1,000 SKUs representing almost $1 billion in sales. And while Hain is now a smaller company, it's more profitable and carries less debt.
