NEW YORK — Private investment firm Aterian Investment Partners has completed the acquisition of Hain Pure Protein from The Hain Celestial Group Inc. The transaction, which was announced in May, is valued at $80 million.
Hain Pure Protein is comprised of Empire Kosher, Kosher Valley and FreeBird poultry brands. Empire Kosher was founded in 1938 and is one of the largest fresh kosher poultry providers in the United States. FreeBird provides specialized, certified organic and antibiotic-free chicken to food service, retail and home-delivered meal channels. The company is located in Mifflintown and Fredericksburg, Pennsylvania.
"This transaction enables our strong management team and all dedicated employees at Empire Kosher and FreeBird to focus on innovation and growth with an ownership team committed to investing in these businesses, leading to improved operations and performance,” said Jeff Brown, Hain Pure Protein CEO. “We are looking forward to Aterian's support in helping the Company pursue growth initiatives, enhancing current relationships and continuing to provide the highest quality products and services to our customers and ultimately the consumer."
The investment firm said it plans to facilitate growth initiatives, including developing new products, expanding into new geographies and building out enhanced production capabilities.
“We are enthusiastic about partnering with the team at Empire Kosher and FreeBird,” said George Zahringer, principal at Aterian Investment Partners. “Throughout the process, we have come to appreciate the leading positions that these brands occupy in their respective markets and how strongly they are aligned with consumer needs, preferences and trends.”
This is Hain Celestial Group’s second recent divestment. In May, the company sold its WestSoy plant-based business to Keystone Natural Holdings.