Lake Success, NY-based Hain Celestial Group Inc. said it has entered into an agreement to acquire That’s How We Roll from the Clearlake Capital Group That’s How We Roll is the producer and marketer of ParmCrisps and Thinsters, two better-for-you brands in the snack category.
The total purchase price is about $259 million and will be financed with borrowings under Hain’s revolving credit facility. That’s How We Roll generated approximately $108 million of net sales for the 12 months ended Sep. 30, 2021, and is expected to yield mid-teens net sales growth in 2022.
The acquisition is expected to be slightly accretive to Hain’s adjusted EBITDA in fiscal year 2022 after making investments in the target brands and accretive in fiscal year 2023 with margins in line with Hain’s existing snacks business. The acquisition will close by the end of this year.
ParmCrisps and Thinsters will deepen Hain’s position in the snacking category and represents a significant step in establishing Hain as a high-growth, global healthy food company.
ParmCrisps are high-protein, low-carb cheese crisps and snack mixes. Thinsters are crispy thin cookies made from high-quality, non-GMO ingredients. Both product lines are available in a variety of flavors.
“ParmCrisps and Thinsters are optimally positioned to benefit from consumer preferences for clean-label and high-protein snacks,” said Hain president and chief executive Mark Schiller. “Both brands have created loyal followings by being true to their unique value propositions."
Hain Celestial Group is a leading organic and natural products company with operations in North America, Europe, Asia and the Middle East. Well-known brands include Celestial Seasonings, Cully & Sully, Earth’s Best, Sensible Portions and Terra, among dozens of others, many of which sell in vending and micro markets.
