Hain Celestial Group announced a definitive agreement to sell its North America Snacks business, which includes the Garden Veggie Snacks, Terra chips, and Garden of Eatin’ brands, to Snackruptors Inc. for $115 million in cash. The transaction is expected to close on February 28, 2026, subject to customary conditions.
The snacks segment represented 22% of Hain’s net sales in fiscal 2025 but contributed only a negligible amount to EBITDA, making it a drag on the company’s financial flexibility. The sale removes a low‑margin, low‑growth line that has not helped the company’s profitability, while freeing capital that can be deployed in higher‑margin categories.
The divestiture is a key element of Hain’s “Hain Reimagined” strategy, which seeks to streamline the portfolio and concentrate on core, higher‑margin businesses such as tea, yogurt, baby/kids products and meal‑prep solutions. By shedding the snacks business, Hain can reallocate resources to these categories, where it has stronger pricing power and better operating leverage.
Proceeds from the sale will be used to reduce debt and improve the company’s leverage profile. While the exact debt figure was not disclosed, the company has repeatedly emphasized its goal of deleveraging and strengthening its balance sheet. The transaction also removes a segment that has not contributed meaningfully to earnings, thereby improving overall profitability metrics.
CEO Alison Lewis said the sale is “a decisive first step we are taking to sharpen our focus on categories and platforms in key markets where we can leverage our strongest organizational capabilities.” She added that the move will help the company “delever the balance sheet, stabilize sales, and improve profitability.”
The sale follows a series of portfolio optimizations, including the divestiture of ParmCrisps® and Thinsters® snacks, and reflects the leadership stability brought by Lewis’s appointment as permanent CEO in early 2026. The transaction underscores Hain’s commitment to a leaner, more focused business model that prioritizes growth in its most profitable segments.
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