Reportedly, The Hain Celestial Group, Inc. (Nasdaq: HAIN), a premium, organic and natural product company operating in Europe, North America, Asia, and the Middle East announced the strategic sale of its premium basmati rice brand, Tilda® to Ebro Foods S.A for a purchase price of $342 million in cash. Hain Celestial plans to use the funds to pay off its debts and is working on ways to distribute the remaining funds for the maximum benefit of its shareholders. Credit Suisse served as a financial advisor to Hain Celestial.
“We are pleased to complete the strategic sale of Tilda, which is consistent with our transformational plan to simplify our portfolio, strengthen our core capabilities and expand margins and cash flow,” stated Mark L. Schiller, Hain Celestial’s President, and Chief Executive Officer.
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