Hain Celestial in Hoboken on Tuesday said it completed the previously announced sale of its ParmCrisps brand to another New Jersey-based snacks company, Our Home.
The disposal of ParmCrisps follows the divestiture of the Thinsters cookie line in April to a third Jersey food company, J&J Snack Foods.
Our Home, headquartered in Boonton, added Pop Secret to its portfolio last week, buying the brand from Campbell Soup Co. In May, Our Home also acquired Sonoma Creamery snacks.
Hain said funds raised from the sale of ParmCrisps would be used to pay down debt, adding that the “transaction further optimizes Hain’s better-for-you portfolio and streamlines its supply chain to drive greater operational efficiency and margin expansion.”
CEO and President Wendy Davidson said: “By divesting ParmCrisps, we can continue to prioritise driving market reach and category scale of our core better-for-you brands.
“This transaction further simplifies our better-for-you portfolio and streamlines our supply chain for operational efficiency and margin expansion.”
