Hain Celestial has taken its Hain Pure Protein business as far as it can, but the sale of the organic and antibiotic-free poultry company to a more protein-focused business can take Hain Pure Protein to the next level, said Irwin Simon, founder and CEO of Hain Celestial.
Simon, speaking during the Consumer Analyst Group of New York (CAGNY) conference on February 20, indicated that part of that next level will be involvement in the slower-growing broiler movement.
“We’ve taken it to the level that we can, and Hain Pure Protein being part of a strategic protein company will now go to the next level,” said Simon. “Tremendous opportunities (exist) in the organic, antibiotic-free and slow-growth area of protein.”
Hain Celestial, a diversified natural and organic products company that currently has 60 brands and operates in North America, Europe, Asia and the Middle East, formally announced during the company’s quarterly earnings call on February 7 that it was looking to divest of Hain Pure Protein, which is involved in broiler and turkey production and processing.
History of Hain Pure Protein
Hain Pure Protein was founded in 2004 as a way for the company to grow and to enter the protein market. It has since grown exponentially.
“We took it basically from an 8 million business to a $500 million business,” Simon said. “Our brands, FreeBird and Plainville have grown double-digits.”
FreeBird is the company’s primary chicken brand, while Plainville Farms is its primary turkey brand.
According to the WATTAgNet Top Poultry Companies Database, Hain Pure Protein produced an estimated 1.77 million pounds of ready-to-cook chicken on a weekly basis in 2016, an increase of .77 million pounds or 77 percent from the previous year. The company also slaughtered an estimated 221 million pounds of live turkeys in 2016, an increase of 51 million pounds or 30 percent.
