fbpx
HomeNewsJ&J Snack Foods expands portfolio with acquisition of Thinsters cookie brand

J&J Snack Foods expands portfolio with acquisition of Thinsters cookie brand

Ritesh Agarwal, Founder, OYO

OYO in talks with family offices to raise $90 Million in down round

0
OYO, a major player in the hospitality industry, is reportedly in talks to raise a down round at a valuation of $2.3 billion, down...
OYO

SoftBank-backed hospitality giant OYO withdraws IPO documents, shifts focus to $450M bond sale

0
OYO, a Delhi NCR-based hospitality unicorn, has officially withdrawn its IPO (initial public offering) documents from the market regulator SEBI. According to the SEBI...

J&J Snack Foods Corp. has completed the acquisition of the Thinsters cookie brand from The Hain Celestial Group, Inc. The transaction’s terms were not made public.

Thinsters are slender, bite-sized cookies crafted with ingredients known for their purity. Originally launched in 2014 under the name Mrs. Thinsters, the brand became part of Clearlake Capital Group, LP’s acquisition of That’s How We Roll, LLC in 2016. In 2019, it was rebranded as Thinsters. Subsequently, in a deal totaling $259 million, the Hain Celestial Group acquired Thinsters along with Parmcrisps two years later.

“This acquisition seamlessly aligns with our extensive range of cookies and baked goods,” stated Dan Fachner, President and CEO of J&J Snack Foods. “Thinsters’ commitment to utilizing top-notch, wholesome ingredients perfectly aligns with the preferences of our expanding customer base. We eagerly anticipate utilizing our expertise to broaden distribution channels and introduce Thinsters cookies to a broader audience.”

J&J Snack Foods also boasts ownership of other snack brands such as SuperPretzel, Hola Churros, and Funnel Cake.

Continue Exploring: Britannia eyes diversification into chocolates, salty snacks, and fresh dairy through joint ventures, unveils aggressive growth strategy

Wendy Davidson, President and CEO of Hain Celestial, expressed, “By divesting Thinsters, we enhance the efficiency of our supply chain network, allowing us to concentrate our efforts on expanding the reach and scale of our core better-for-you brands within our targeted categories. We are pleased to have reached this agreement with J&J Snack Foods and have full confidence that the business will flourish under their leadership.”

The acquisition of Thinsters and Parmcrisps did not yield favorable results for The Hain Celestial Group. Just over a year post-acquisition, the company reported a pre-tax, non-cash impairment charge of $156 million related to the brands, citing a substantial decline in distribution, according to the company’s statement.

The initial premise, in my opinion, was that the risk associated with channel concentration would be surpassed by the growth of channels. Davidson made this comment during a May 9, 2023, conference call regarding the impairment charge. “But it turned out that these two elements were actually in opposition.” “Therefore, what we are witnessing currently is a result of acknowledging the current state of the brand.”

Continue Exploring: Global cocoa supply shortage pushes Cadbury and major chocolate brands to consider price hikes

Latest articles

Pret A Manger expands footprint in India with new outlet launch in Delhi’s upscale Khan Market

Pret A Manger, the renowned food and organic coffee chain, has unveiled its new...

Jubilant Foodworks’ Q4 net profit rises multi-fold to INR 208.24 Cr

Jubilant Foodworks Limited, which owns popular fast-food brands Domino's Pizza and Dunkin' Donuts, reported...

SoftBank-backed hospitality giant OYO withdraws IPO documents, shifts focus to $450M bond sale

OYO, a Delhi NCR-based hospitality unicorn, has officially withdrawn its IPO (initial public offering)...

D2C brand WOW Skin Science in talks for $75 Million funding round

WOW Skin Science, the direct-to-consumer skincare brand with notable backers like GIC and ChrysCapital,...

Related Articles

These Nankhatai cookies by Kilo Beaters are the perfect snack to try along with your tea

The sweet aroma of cardamom, the rich taste of ghee, and the delicate texture...

Mokafé Coffee House expands its US footprint with a new location in Queens

Mokafé Coffee House, a premium coffee brand, has expanded its footprint in the United...

Sprinkles bakery to launch first international store in South Korea

Sprinkles, the renowned bakery brand, has announced plans to open its first store outside...
× Drop a, Hi?