Shares of Hain Celestial (NASDAQ:HAIN) jumped roughly 12% to about $1.36 in premarket trading on Monday after the company said it will sell its North American snacks business.
The organic and natural foods group has agreed to sell the unit to Snackruptors, a family-owned Canadian snacks producer, for $115 million in cash. Hain Celestial expects the transaction to be completed by February 28.
Management said the divestment is part of a broader effort to streamline operations and concentrate on core categories and markets with stronger profitability. Following the sale, Hain Celestial’s North American portfolio will be centered on tea, yogurt, baby and kids products, and meal-preparation offerings.
“Proceeds from the transaction will be used to reduce debt, strengthening the company’s financial position and leverage profile,” said CEO Alison Lewis.
The announcement follows a difficult period for the company, with Hain Celestial shares having fallen nearly 83% over the course of 2025.