Hain Celestial Divests Kineret
The Hain Celestial Group Inc. announced the completion of the previously disclosed sale of its Kineret and Kosherific brands of frozen foods to Kedem Food Products International. Terms of the transaction were not disclosed.
"As we streamline our business with brand and SKU rationalizations, we are focusing on our core natural and organic brands and products. It is with mixed feelings that we sell the Kineret specialty kosher brand, even though the category is growing, since the Kineret brand was one of our first acquisitions," commented Irwin D. Simon, president and chief executive officer of The Hain Celestial Group. "I am pleased to see the Kineret brand sold to Kedem, an innovator in specialty brands, as they will bring Kineret and Kosherific to another level of success."