Holland & Knight advised Hometown Food Company on the deal.
Hometown Food Company, a wholly-owned portfolio company of Brynwood Partners VII L.P. and Brynwood Partners VIII L.P., executed the acquisition of the Arrowhead Mills and SunSpire brands from The Hain Celestial Group, Inc. for $15 million subject to customary post-closing adjustments.
The transaction includes a manufacturing facility in Hereford, TX and its employees.
Hometown Food Company, based in Chicago, IL, was formed by Brynwood Partners in June 2018 to acquire a portfolio of brands from The J.M. Smucker Company.
Greenwich, Conn.-based Brynwood Partners is an operationally-focused private equity firm that makes control investments in North American-based lower middle market companies.
Arrowhead Mills has a rich heritage based on its simple mission to provide organic, high-quality products to its customers. Arrowhead Mills competes primarily in the baking and breakfast categories. The brand was founded in 1960 in the Texas Panhandle by Frank Ford, a pioneer in organic farming. The Arrowhead Mills brand is a leader in the better-for-you space with a national retail presence.
SunSpire is a producer of wholesome chocolates all made with the world’s richest cocoa beans. The brand’s products offer health-conscious consumers an assortment of innovative products including baking chocolate and chocolate candy. SunSpire’s baking chips and chocolate bars include rich, indulgent, Fair Trade, organic and alternative products. SunSpire products are made with the simplest ingredients available that are completely free of refined sugars, hydrogenated oils, trans-fats, preservatives and artificial flavors.
The Hain Celestial Group (Nasdaq: HAIN), based in Lake Success, N.Y., is a leading organic and natural products company with operations in North America, Europe, Asia and the Middle East.
Holland & Knight team included Partners Martin Clarke (Picture), Seth Milligan and Kelly McKeon.
Law Firms: Holland & Knight;
Clients: Hometown Food Company;