=Hain Celestial (HAIN): activist investor urges HAIN to sell itself

Newport Beach, Calif.-based Engaged Capital revealed its 9.9% stake in Hain Celestial Group (HAIN), the largest single-voting group, according to FactSet.

It has nominated seven candidates to the company's eight-member board, calling for the kind of overhaul it successfully executed against Rent-A-Center (RCII). Hain could use a change. Last week, the company installed a new CFO and filed more than a year's worth of financial statements. Its accounting irregularities are under investigation by the Securities and Exchange Commission.

Engaged Capital would like Hain to sell. Could Kraft Heinz (HNZ) be a buyer?