Hain Celestial Completes Sale of Cookie Business
The Hain Celestial Group, the Hoboken, N.J., company known for its better-for-you brands, has finalized the sale of its Thinsters cookie business to J&J Snack Foods of Mount Laurel, N.J. Spinning off that unit will enable the CPG to focus on its core business and pay off debt as part of its recent transformation strategy. Hain bought the Thinsters brand in 2021.
“Divesting Thinsters further streamlines our supply chain network and strengthens our ability to focus our efforts on driving greater reach and scale of our core better-for-you brands across our categories of focus,” explained Hain CEO Wendy Davidson. “We are pleased to reach this agreement with J&J Snack Foods and are confident that the business will thrive under their leadership.”
[RELATED: Iconic Pennsylvania Chocolatier Reveals Ambitious National Grocery Growth Plan]
At J&J Snack Foods, President and CEO Dan Fachner said that the product line is a welcome addition. “This acquisition is a natural fit for us, complementing our already vast offering of cookies and baked goods. Thinsters' dedication to using high-quality, wholesome ingredients resonates perfectly with our growing customer base. We look forward to leveraging our strengths to expand distribution and introduce Thinsters cookies to a wider audience," he declared.
Hain’s current stable of brands spans several categories, including snacks, baby/kids food, beverages, meal preparation and personal care. Its products are sold in more than 75 countries and include brand such as Garden Veggie, Terra, Garden of Eatin', Earth’s Best, Ella’s Kitchen, Celestial Seasonings, Joya, Natumi, Greek Gods, Cully & Sully, Imagine, New Covent Garden, Yves and Linda McCartney’s and Alba Botanica, among others.
In March, Hain announced the hiring of Chad Marquardt as president, North America, reporting to Davidson. He was tapped to lead strategy and execution in the United States and Canada and to help guide the multi-year transformation plan.
Meanwhile, Thinsters’ new owner, J&J Snack Foods, offers a variety of snacks under brands such as Superpretzel, Icee, Luigi’s, The Funnel Cake Factory and Hola Churros. The products are sold in categories including baked goods, frozen beverage and frozen novelties. In February, J&J Snack Foods reported first quarter revenue of $348.3 million and a net earnings lift of 9.8%. Retail sales were 1.6% higher compared to the first quarter of fiscal 2023.
