Posted on May 22, 2019 by Sustainable Food News

Activist investor ups stake in organic food giant to over 20%

Engaged Capital took over Hain's board in 2017

Hedge fund Engaged Capital LLC on Tuesday disclosed 20.2 percent ownership in organic and natural food giant The Hain Celestial Group Inc., more than double its initial stake in June 2017.

The disclosure by Engaged Capital, by far Hain’s largest shareholder, was made in a securities filing by Lake Success, N.Y.-based Hain (NASDAQ: HAIN), which owns the Earth’s Best organic baby food and BluePrint cold-pressed juice brands, among others.

Engaged Capital took control of Hain’s board in September 2017 after bringing in six dissident directors and forcing the company to examine strategic alternatives, including a sale of the company.

The disruption ultimately led to the departure of founder Irwin Simon in June 2018.

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