Hain Celestial mulls sale of baby food brand Earth's Best – Bloomberg

The Hain Celestial Group Inc. is exploring the possibility of selling its organic baby food brand Earth's Best in a bid to improve its brand portfolio, Bloomberg News reported Jan. 25, citing people with knowledge of the matter.

The U.S. food company is in talks with an adviser and could soon approach prospective buyers to gauge interest, according to the report.

A potential deal could fetch at least $200 million, the news outlet added.

However, sources told Bloomberg News that discussions on the matter are at an early stage, and Hain Celestial could decide not to proceed with the sale.

The company did not immediately respond to S&P Global Market Intelligence's request for comment.

Earth's Best offers organic food and products such as diapers and wipes for infants, toddlers and older children. It was founded in 1985 and acquired by Hain Celestial in December 1999, according to Market Intelligence data.

The report comes nearly two weeks after Hain Celestial completed the sale of its U.K. fruit business, including its Orchard House Foods Ltd. unit, to British private equity firm Elaghmore Partners as part of its broader brand simplification strategy.