Hain_Celestial_Group

Hain Celestial Group

Hain Celestial Group

Natural foods company

The Hain Celestial Group, Inc. is an international food and personal-care company based in the United States. Its products include natural foods and organic personal-care items. Founded in 1993 as Hain Food Group, it changed its name to Hain Celestial Group after merging with Celestial Seasonings in 2000. It is publicly traded on the NASDAQ with brands that include Ella's Kitchen, Frank Cooper's, and Linda McCartney Foods.

Quick Facts Company type, Traded as ...

History

Hain Celestial Group was founded by Irwin D. Simon in 1993.[7] It was originally called Hain Food Group when founded, making acquisitions of other companies that included Barricini Foods and Kineret. It went public on the NASDAQ in 1993.[8]

The H. J. Heinz Company acquired 19.5% of the company in September 1999,[9] subsequently divested its holdings in the company in 2005.[10] Hain purchased Celestial Seasonings in 2000 for a deal valued at approximately $390 million.[11] It subsequently changed its name to Hain Celestial Group.[8] In 2002, it restated prior years promotional allowances and other sales incentives of $16.8 million.[12]

By 2012, Hain was the world's largest natural food company with $1.4 billion in revenue.[8] By 2013, it owned approximately 50 brands and offered 5,000 products internationally.[13] The same year, it was one of 25 companies named in a class action lawsuit alleging false labeling of its personal care products under California law.[14][15][16][17] It settled the lawsuit in 2015, paying $7.5 million in compensation with an additional $2.4 million worth of coupons to consumers.[18][19][20]

In 2015 the company acquired the non-dairy company Mona Naturprodukte Gmbh with its brand Joya.[21] In June 2018, Hain Celestial announced that CEO Irwin Simon would step down.[22] He was replaced by Mark Schiller who became the company's president and CEO unil January 2023 when he was replaced by Wendy Davidson.[23] The company moved its headquarters to Hoboken, New Jersey in 2023.[6]

Products

Hain Celestial Group sells natural and organic foods as well as personal-care brands[24] through retailers such as Whole Foods, Costco, Wal-Mart, and other mass-market grocery stores.[13] Its food brands have included Celestial Seasonings, Terra vegetable chips, Earth's Best, Sensible Portions, ParmCrisps, and Thinster snacks.[25]

List of brands

See also

References

  1. [1]
    Doering, Christopher (28 November 2022). "Hain Celestial names seasoned CPG exec as new CEO". Food Drive. Retrieved 13 November 2023.
  2. [2]
    "Hain Celestial Closes on Sensible Portions(R) Brand Acquisition". Hain Celestial Group. Retrieved September 15, 2019.
  3. [3]
    "Brands you can believe in". Hain Celestial. Retrieved 13 November 2023.
  4. [4]
    "Our Business". Hain Daniels. Retrieved April 24, 2017.
  5. [5]
    "Management". Hain Celestial. Retrieved 9 January 2024.
  6. [6]
    Redmond, Kimberly (4 August 2023). "Organic products giant Hain Celestial relocating HQ to NJ". NJ Biz. Retrieved 9 January 2024.
  7. [7]
    Morgenson, Gretchen (19 August 2016). "Bloated Pay Came Before Hain Celestial's Error". The New York Times. Retrieved 24 December 2023.
  8. [8]
    O'Connor, Clare (24 July 2013). "Juiced Up: Inside $3.5 Billion Organic Giant Hain Celestial, Whole Foods' Biggest Supplier". Forbes. Retrieved 24 December 2023.
  9. [9]
    Heinz to Purchase Additional Equity in Hain Celestial to Restore Investment Level to 19.5 Percent
  10. [10]
    Howard, Philip H (Winter 2009). "Organic Industry Structure". Media-N: Journal of the New Media Caucus. 5 (3). Archived from the original on 2012-04-24. Retrieved 2012-01-02. Heinz acquired a 19.5% stake in Hain Celestial in 1999 while also transferring ownership of their Earth's Best brand, but sold all of its Hain Celestial stock in 2005.
  11. [11]
    "Hain Food to Buy Celestial Seasonings". The New York Times. 7 March 2000. Retrieved 24 December 2023.
  12. [12]
    "The Hain Celestial Group Reports Third Quarter Results".
  13. [13]
    Pitts, Gordon (26 July 2013). "Hain Celestial's Irwin Simon: An insatiable appetite for organic foods". The Globe and Mail. Retrieved 9 January 2024.
  14. [14]
    "Organic Product Lawsuit: Center for Environmental Health Sues Dozens". Joanna Lin. The Huffington Post California. June 20, 2011. Retrieved November 14, 2014.
  15. [15]
    Von Slomski v. The Hain Celestial Group truthinadvertising.org
  16. [16]
    "Hain Celestial Buyers Seek Class Cert. On 'Organic' Claims". Beth Winegarner. Law360. November 6, 2014. Retrieved November 14, 2014.
  17. [17]
    "Hain Mini-Waffles 'Natural' Label Could Mislead, Judge Says". Beth Winegarner. Law360. September 17, 2014. Retrieved November 14, 2014.
  18. [18]
    "Hain Celestial settles mislabeling lawsuit for nearly $10 million". Aisha Al-Muslim. Newsday.
  19. [19]
    "$9.4M Settlement Reached in Hain Organic Consumer Fraud Class Action Lawsuit". BigClassAction.com. 24 September 2015.
  20. [20]
    "Hain Celestial Inks $9.4M Deal To End Organic Labeling Suit". Kali Hays. Law 360.
  21. [21]
    "US-Konzern Hain Celestial übernimmt Mona-Gruppe". 25 July 2015.
  22. [22]
    Hirsch, Lauren (2018-06-25). "Irwin Simon, one of the food industry's longest-tenured CEOs, to step down at Hain Celestial". CNBC. Retrieved 2018-06-27.
  23. [23]
    Harvey, Simon (28 November 2022). "Hain Celestial CEO Mark Schiller steps aside for food veteran Wendy Davidson". JustFood. Retrieved 9 January 2024.
  24. [24]
    "Behind the Brand Hain Celestial Group". The Seattle Times. 16 December 2007. Retrieved 9 January 2024.
  25. [25]
    Bonfiglio, Briana (14 March 2022). "Global, Long Island-based Hain Celestial Sells Healthy Snacks, Tea, and More". Long Island Press. Retrieved 9 January 2024.
  26. [26]
    "Snacking growth: Hain Celestial acquires That's How We Roll, Agthia Group completes BMB Group purchase".
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