Hain Celestial has intensified its efforts to simplify its brand portfolio, as the company has offloaded its Casbah and Europe’s Best brands to US Durum and Nature’s Touch Frozen Foods, respectively.
The Casbah brand produces and markets a range of vegetarian prepared food mixes including falafel, couscous and pilaf mixes, while the Europe’s Best brand sells a portfolio of frozen fruits and vegetables.
US Durum, meanwhile, is a Pennsylvania-based manufacturer of couscous products, while Nature’s Touch Frozen Foods produces frozen fruit products, so the addition of the respective brands aligns with and strengthens their existing product portfolios.
Financial details were not disclosed by any party involved in the transactions.
Mark L. Schiller, Hain Celestial’s President and CEO, said: “These two Canadian strategic brand divestitures represent another important step in the execution of our transformational strategic plan by further simplifying the portfolio and organisation and improving our margins and cash flow.
“The transactions allow us to focus more resources against fewer, bigger opportunities which will drive our long term financial performance.”
These latest sales by Hain Celestial represent part of the company’s portfolio simplification strategy, and follow on from a number of major sales in 2019.
In August 2019, the company offloaded its Tilda Rice brand to Ebro Foods for around $342 million, while Hain Celestial also divested its Arrowhead Mills and SunSpire brands, its Hain Pure Protein business and its WestSoy plant-based protein business over the course of 2019.
© FoodBev Media Ltd 2020