The Hain Celestial Group has purchased Proven Brands, Inc. and KTB Foods, Inc. from Clearlake Capital Group for $259 million.

The deal includes the ParmCrisps and Thinsters brands from Clearlake’s better for you holdings platform. During Clearlake’s ownership of the brands, it released a variety of new flavors, innovative products, scaled distribution and manufacturing, accelerated capabilities and modernized its branding, logo and packaging. Following the Clearlake investment, Proven Brands grew from 10 employees to 250 and operates a new 70,000 square foot manufacturing facility.

“We are excited to welcome ParmCrisps and Thinsters to the Hain family and support the brands’ next chapter of growth,” said Mark Schiller, president and CEO of Hain. “ParmCrisps and Thinsters are attractive clean-label snacks that address the needs of a growing base of health conscious consumers.”

Piper Sandler & Co. and BofA Securities served as the financial advisors to Proven Brands and Hain Celestial, respectively.  Sidley Austin LLP and Venable served as counsel to Clearlake and Hain, respectively.