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Hain Celestial On The Block?

June 30, 2017: 12:00 AM EST
Organic and natural foods company Hain Celestial may soon be on the auction block. After successfully steering through an accounting review that worried investors and depressed stock value, top execs disclosed to a Jefferies Group analyst that they are open to takeover offers or other strategic changes. Shortly thereafter, Engaged Capital said it had accumulated a nearly ten percent stake in Hain Celestial and was prepared to jettison most of the board members and push for a sale of the whole company, or of part of it. Though the accounting review ended without any substantial changes being made, the Securities and Exchange Commission is continuing its own probe. Hain stock is down about 30 percent since the SEC investigation began. [Image Credit: © Hain Celestial ]
Tara Lachapelle, "Organic Foodmaker Hain Looks Appetizing", Bloomberg Gadfly, June 30, 2017, © Bloomberg Finance L.P.
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