Our Home Acquires ParmCrisps From Hain Celestial
Better-for-you snack platform Our Home is seeking to accelerate growth with the acquisition of ParmCrisps from Hain Celestial Group, which the companies announced today. The deal comes just one week after the company acquired Pop Secret from Campbell Soup Company.
As part of the transaction, Our Home will add ParmCrisps to its family of brands – which includes Food Should Taste Good, Popchips, Real Food From the Ground Up, You Need This, RW Garcia and Sonoma Creamery– and take over its production facility in York, Pennsylvania. The deal adds complementary manufacturing, innovation and distribution to the platform following its acquisition of Sonoma Creamery earlier this year, according to the company.
“The combination of our Sonoma Creamery and ParmCrisps talent will drive tremendous IP and knowledge sharing, benefitting both brands, our retail partners and, most importantly, our consumers,” said Aaron Greenwald, founder and CEO of Our Home, in a statement.
Founded in 2017, ParmCrisps produces a portfolio of high-protein, low-carb cheese crisps and snack mixes. In 2021, Hain Celestial purchased That’s How We Roll, the producer and marketer of both ParmCrisps and bite-sized cookie brand Thinsters, from Clearlake Capital Group for approximately $259 million in cash. Hain sold Thinsters to Icee and Dippin’ Dots owner J&J Snack Foods Corp. earlier this year in an all-cash transaction.
According to market researcher Grand View Research, the global cheese snacks market size was valued at $64.6 billion in 2021 and is expected to grow at a CAGR of 6.3% between 2022 and 2030. Competitors in the cheese crisp space include Whisps, John Wm. Macy’s and private label products from retailers like Wegman’s and Albertson’s (Open Nature brand).
For Hain Celestial, the move further optimizes its product portfolio and streamlines its supply chain to drive greater optimal efficiency and margin expansion. According to a press release, the company will use proceeds from the sale to pay down its debt.
In fiscal 2024, Hain’s organic net sales growth was down 2% from the previous year. The decline was driven primarily by Terra and ParmCrisps and partially offset by growth in Garden Veggie Snacks.
ParmCrisps’ acquisition comes as part of Hain Reimagined, the company’s multi-year plan focused on accelerating growth in key brands across snack, baby and kids food, beverages, meal prep and personal care. With the sale of ParmCrisps, Hain will reduce its manufacturing footprint and co-manufacturer network while streamlining its vendor base.
“By divesting ParmCrisps, we can continue to prioritize driving market reach and category scale of our core better-for-you brands,” said Wendy Davidson, president and CEO of Hain Celestial Group, in a statement.
