Hain Celestial licensed the intellectual property associated with its Rosetto brand of frozen Italian foods.
The Hain Celestial Group, Inc., Lake Success, N.Y., established a joint venture with Rosetto Foods LLC, Boulder, Colo. Hain Celestial maintains a 49% minority interest in the joint venture. As part of the strategic partnership, effective April 1, Hain Celestial licensed the intellectual property associated with its Rosetto brand of frozen Italian foods. 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," says Gary Tickle, chief executive officer 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."