Benzinga | Dec 13, 2021 08:43AM EST

Hain Celestial To Acquire Clearlake's ParmCrisps, Thinsters Brands

* Clearlake Capital Group, L.P., agreed to sell Proven Brands, Inc. and KTB Foods, Inc. (d/b/a That's How We Roll) to Hain Celestial Group Inc (NASDAQ:HAIN) for approximately $259 million.

* The sale includes ParmCrisps and Thinsters brands from Clearlake's Better For You Holdings food platform.

* ParmCrisps are gluten-free and sugar-free, crunchy crisps made from cheese, and Thinsters are crisp, bite-sized, oven-baked cookies made with butter, sugar, and no artificial ingredients.

* "ParmCrisps and Thinsters are attractive clean-label snacks that address the needs of a growing base of health-conscious consumers," said Hain CEO Mark Schiller.

* Hain held $28.9 million in cash and equivalents as of September 30, 2021.

* Price Action: HAIN shares closed higher by 0.10% at $39.01 on Friday.