The Hain Celestial Group, an organic and natural products company, has announced the establishment of a joint venture—Rosetto Foods—a newly-formed entity managed by Steven Sands. Hain Celestial has a 49% minority interest in the joint venture. As part of the strategic partnership with Rosetto Foods effective April 1, 2017, Hain Celestial has licensed the intellectual property associated with its non-core Rosetto brand of frozen Italian foods to the joint venture. Rosetto Foods will operate the business and be responsible for executing the operating plan.
“We are pleased to enter into this strategic alliance with Steve Sands and his management team as we focus on our core natural and organic product portfolio and platforms for growth,” said Gary W. Tickle, CEO of Hain Celestial North America. “Steve Sands and his team have an established track record with smaller better-for-you frozen food brands, with the right skill set to revive the Rosetto brand in a more meaningful way as part of their meal solutions offerings.”