Hain Celestial has agreed to acquire That’s How We Roll, the producer of better-for-you snack brands such as ParmCrisps and Thinsters, for (approx.) $259 million.
That’s How We Roll is owned by US-based private equity firm Clearlake Capital Group.
The purchase will cement Hain’s position in the snacking category and establish it as a high-growth, global healthy food company.
ParmCrisps are high-protein, low-carb cheese snack products. Meanwhile, Thinsters are crispy thin cookies made from high-quality, non-GMO ingredients.
José E Feliciano, co-founder and managing partner, and Arta Tabaee, managing director, of Clearlake Capital Group said: “We have been proud to sponsor ParmCrisps and Thinsters to execute on a vision of scaling a better-for-you snack platform to meet the demands of today’s health-conscious, informed consumers”.
They continued: “Given our previous experience with Hain Celestial, who acquired our former portfolio company World Gourmet/Sensible Portions in 2010, we believe ParmCrisps and Thinsters have found a perfect home and we look forward to the brands’ continued success under Hain.”
The acquisition is subject to an adjustment for working capital and will be financed with borrowings under Hain’s revolving credit facility.
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