[10 May/Food Dive]

Hain Celestial is selling Hain Pure Protein Corporation to private equity firm Aterian Investment Partners III LP for USD$80 million (approx. NZD$121 million) and the deal will close by 30 June. Hain Celestial believe the sale will help balance sheet figures as it will pay off some debt, and the sale of Hain Pure Protein marks the company’s third brand sale in the past three months. Hain Celestial, maker of natural and organic products evolved into a business with 55 brands and related products and has set out to streamline their portfolio and invest only in their top 500 US products.