Hain Celestial Establishes Rosetto Joint Venture

8bcea0c7-759f-40e0-b714-50ba4077d6b2articleimage.jpg

13 Apr 2017 --- The Hain Celestial Group, Inc., has establishment of a Joint Venture, Rosetto Foods LLC, a newly formed entity managed by Steven Sands. Hain Celestial has a 49% minority interest in the Joint Venture. As part of the strategic partnership with Rosetto Foods LLC effective April 1, 2017, Hain Celestial licensed the intellectual property associated with its non-core Rosetto brand of frozen Italian foods to the Joint Venture. Rosetto Foods LLC will operate the business and be responsible for executing the operating plan. 

"We are pleased to enter into this strategic alliance with Steve Sands and his management team as we focus on our core natural and organic product portfolio and platforms for growth," said Gary W. Tickle, Chief Executive Officer of Hain Celestial North America. "Steve Sands and his team have an established track record with smaller better-for-you frozen food brands, with the right skill set to revive the Rosetto brand in a more meaningful way as part of their meal solutions offerings." 

"I would like to thank the Hain Celestial team for their continued commitment to the Rosetto brand and their confidence in our ability to execute and create value," said Steven Sands. "Rosetto's brand equity and strong positioning with both retailers and consumers presents an extremely attractive opportunity to continue innovating in this exciting category."

Steven Sands is the Co-Chairman of Frozen Foods Partners (f/k/a Gourmet Dining), a packaged consumer products (CPG) company specializing in the production, distribution and marketing of a wide variety of frozen food products marketed under the Gourmet Dining, La Sabrosa and Tru Earth brands. The Rosetto brand, sold in the grocery and mass channels, generated approximately $10 million in net sales for the year ended June 30, 2016 and was minimally accretive to the Company's earnings.

Related Articles

Business News

Hain Celestial acquires natural sweeteners brand Clarks UK

05 Dec 2017 --- The Hain Celestial Group, Inc. has announced that one of its wholly-owned subsidiaries has acquired Clarks UK Ltd., The Natural Sweeteners Company, a leading maple syrup and natural sweetener brand, in the United Kingdom.  

Food Ingredients News

Could Hain Celestial purchase be the next step for Nestle?

23 Nov 2017 --- As consumer tastes shift to healthier food, makers of organic and vegetarian food Hain Celestial Group sits in the “sweet spot” of current trends, and speculation is mounting over what companies are eyeing a possible takeover bid of the on-trend company. Coming out as one of the potential top suitors is Nestlé.

Business News

Hain Celestial Ventures in Strategic Deal to Buy Up Bean Company

30 Jun 2017 --- The Hain Celestial Group have announced the purchase of “healthy” The Better Bean Company, a family startup.

Business News

No Need to Restate Earnings Says Hain Celestial

23 Jun 2017 --- Following a long investigation, Hain Celestial has completed its accounting review and audit and did not need to make any material changes to any of its previously reported financial statements - and it is up to date with all its reporting obligations with the Securities and Exchange Commission (SEC).

Food Ingredients News

Global Plant Milk Market to Top $16 Billion in 2018

13 Jun 2017 --- The global market for dairy alternative drinks is expected to reach US$16.3bn in 2018, up dramatically from US$7.4bn in 2010. Significant developments in this area include the acquisition of WhiteWave in 2016, presenting Danone with the opportunity to further developing its interests in this dynamic market in both North America and Europe. Innova Market Insights will present new data on food trends at the IFT Food Expo in Las Vegas, booth #2645.

More Articles