Hain Celestial, a company active in the food industry, announced on September 14 that it has signed an agreement to sell its international assets to Aurelius for $323 million in cash. This decision was made following a review of Hain Celestial's portfolio by Alison Lewis, the company's President and CEO.
History and Scope of the Sale
The sale of Hain Celestial's international assets, which includes operations in the UK, Ireland, and Europe, is part of the company's overall strategy to simplify its portfolio. This strategy previously led to the sale of the North American snacks division to Canadian company Snackruptors for $115 million in 2026. Well-known brands such as Garden Veggie Snacks, Terra chips, and Garden of Eatin' products were also removed from this portfolio.
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Financial Details and Forecasts
Hain Celestial stated in a separate report to the U.S. Securities and Exchange Commission (SEC) that this sale includes well-known brands such as Linda McCartney Foods, Cully & Sully, and New Covent Garden soups. After this transaction, Hain Celestial will only retain its assets including Celestial Seasonings teas, Greek Gods yogurts, and the organic brand Earth's Best.
Lewis stated in a statement: "Completing this transaction will advance our strategy to simplify our portfolio and focus on reducing the company's debt. The remaining business in North America will include leading brands in attractive categories with a simpler operating model." Following this sale, Hain Celestial aims to reduce annual costs by approximately $16 million in the remaining North American operations.
Hain Celestial also announced its annual financial results, indicating a reduction in net debt to $500 million from $650 million last year. The company's sales for the fiscal year 2026 decreased by 13% to $1.35 billion, which includes a 3% decline based on organic metrics.
Currently, Hain Celestial is seeking to extend its debt profile "beyond" December 22. The agreement with Aurelius is contingent upon securing necessary agreements with creditors, and if these agreements are not made, Aurelius may cancel the contract.
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