Clearlake celebrates huge ‘That’s How We Roll’ revenue growth with $259m sale to Hain Celestial | AltAssets Private Equity News
Summary
Clearlake Capital has agreed to sell Proven Brands and KTB Foods to Hain Celestial Group in a roughly $259m deal. Never miss a story – click to sign up to AltAssets’ free daily PE newsletter Clearlake acquired the Company in 2014 and completed the acquisition of Kitchen Table Bakers, the makers of ParmCrisps, two years later. “We believed we could establish differentiated better-for-you snack brands that would benefit from a multi-channel commercial strategy geared toward club, grocery, mass, and eCommerce channels, as well as an emphasis on product innovation and operational excellence. “Further, we recognized the importance of protecting the brands’ proprietary manufacturing processes by building and growing our production capabilities and pursuing operational excellence. “We are proud of the success of the ParmCrisps and Thinsters brands, and look forward to their continued growth under Hain Celestial’s leadership.” A statement from Clearlake co-founders and managing partners José Feliciano and Behdad Eghbali said, “We have been proud to partner with Aldo, Sammy and the entire team in executing on our combined vision of scaling a better-for-you snack platform to meet the demands of today’s health conscious, informed consumers.” They added, “Given our previous experience with Hain Celestial, who acquired our former portfolio company World Gourmet / Sensible Portions in 2010, we believe ParmCrisps and Thinsters have found a perfect home, and we look forward to the brands’ continued success under Hain.”