Thursday, 18 July 2019

Aterian completes the carve-out acquisition of Hain Pure protein

01 July 2019 | News

Hain Pure Protein is comprised of the Empire Kosher, Kosher Valley and FreeBird poultry brands.

Aterian Investment Partners ("Aterian"), a private investment firm, announces that one of its affiliates has completed the acquisition of Hain Pure Protein (the "Company") in a carve-out transaction from The Hain Celestial Group, Inc. ("Hain Celestial").

Hain Pure Protein, located in Mifflintown, PA and Fredericksburg, PA, is comprised of the Empire Kosher, Kosher Valley and FreeBird poultry brands. Empire Kosher, originally founded in 1938, is the largest fresh kosher poultry provider in the United States. FreeBird is a leading specialized, certified organic and antibiotic-free chicken provider to the foodservice, retail and home-delivered meal channels.

Brandon Bethea, Co-Founder and Partner at Aterian, said, "We are excited to add Empire Kosher and FreeBird to the Aterian portfolio and are excited for the opportunity to collaborate with management as the Company enters its next chapter. We intend to facilitate management's efforts to invest in key growth initiatives such as developing new products, expanding into new geographies and building out enhanced production capabilities. Through these investments we will support the Company's well-earned reputation for outstanding, high-quality products and leading customer service, further positioning the business for robust growth."

George Zahringer, Principal at Aterian, added, "We are enthusiastic about partnering with the team at Empire Kosher and FreeBird. 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. We look forward to working closely with management to execute on our shared strategic vision."  

Jeff Brown, Hain Pure Protein CEO, commented, "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. We are looking forward to Aterian's support in helping the Company pursue growth initiatives, enhancing current relationships and continue to provide the highest quality products and services to our customers and ultimately the consumer."

Centerview Partners and DLA Piper advised Hain Celestial. Weil, Gotshal & Manges LLP and PricewaterhouseCoopers LLP advised Aterian.

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