Lake Success, NY—The Hain Celestial Group, Inc., on Monday announced it has entered into an agreement to acquire That’s How We Roll, the producer and marketer of ParmCrisps and Thinsters, from Clearlake Capital Group.
The total purchase price is approximately $259 million. That’s How We Roll generated approximately $108 million of net sales for the 12 months ended Sept. 30, 2021, and is expected to generate mid-teens net sales growth in calendar year 2022, according to the Hain Celestial Group.
Clearlake had acquired That’s How We Roll in 2014 and subsequently completed the successful acquisition of Kitchen Table Bakers, the maker of ParmCrisps, in 2016.
Under Clearlake’s stewardship, in partnership with founder Aldo Zuppichini, chief executive officer Sammy Kestenbaum and management and employees, That’s How We Roll introduced a variety of new flavors and products, scaled distribution and manufacturing, including opening a new company-owned facility in 2020 in York, PA, to optimize the company’s proprietary manufacturing process, accelerated multi-channel go-to-market capabilities, and modernized its branding with redesigned logos and packaging.
“ParmCrisps and Thinsters are optimally positioned to benefit from consumer preferences for clean-label and highprotein snacks,” said Mark Schiller, president and CEO of Hain Celestial. “Both brands have created loyal followings by being true to their unique value propositions. We are excited to welcome them to the Hain family and support the brands’ next chapter as part of our growing snacking platform.”
“Our company’s partnership with Hain Celestial is an outstanding outcome based on our shared alignment to deliver healthy and tasty snacks with simple, wholesome ingredients,” Kestenbaum said.
“This successful outcome would not have been possible without the value-added partnership of Clearlake, whose deep consumer and operating expertise accelerated our growth trajectory,” Zuppichini said. “Clearlake understood our goals and, under their stewardship, we were able to successfully execute our growth plan.”
