Hain Celestial – HAIN – Announces Strategic Acquisition In The United Kingdom

NASDAQ: HAIN), a leading natural and organic products company providing consumers with A Healthy Way of Life™, announced that Hain Daniels Group had entered into an agreement to acquire Premier Foods plc’s portfolio of market-leading packaged grocery brands including Hartley’s®, Sun-Pat®, Gale’s® Robertson’s®, and Frank Cooper’s® — with peanut butter, honey, jams, fruit and jelly, marmalade, and chocolate product offerings — including its Histon manufacturing base in Cambridgeshire, UK. The purchase, which is subject to approval by Premier Foods shareholders and consent from its banking syndicate, is expected to close by the end of October 2012. The acquisition is expected to be accretive to Hain Celestial’s earnings upon closing.

• Agrees to Purchase MARKET-Leading Brands Including Hartley’s® and Sun-Pat® with Over $250 Million in Sales from Premier Foods plc
• Provides Entry Into Ambient Grocery Categories
• $0.25 Per Share Accretive in Fiscal Year 2013
• Completes Sale of Private Label Chilled Ready Meals
• Enters into Letter of Intent to Sell Daily Bread™ Brand

Hain Daniels Group, wholly owned by Hain Celestial, was established in October 2011 following the acquisition of The Daniels Group. Hain Daniels makes and sells fresh food and drinks in eight chilled and frozen food categories under leading brands including the New Covent Garden Soup Co.®, Johnson’s Juice Co.®, Linda McCartney®, Farmhouse Fare® and Lovetub®.

“When we acquired the Daniels Group, we planned to build upon its leadership position and use its platform for organic growth as well as future acquisition growth in the United Kingdom. The strategic initiatives launched in the United Kingdom build upon the successful long-term growth of products in the chilled category achieved by Rob Burnett and his enhanced team who we expect will continue to leverage the Hain Daniels footprint into adjacent categories to deliver superior growth and profitable returns,” said Irwin D. Simon, Founder, President and Chief Executive Officer of Hain Celestial. ”In order for Hain Daniels to become one of the largest healthy food companies in the United Kingdom, we needed to expand Hain Daniels base into Ambient Grocery where we can leverage Hain Celestial’s track record of success in the U.S. and Canada.”

The Hain Celestial Group, Inc. – HAIN

The Hain Celestial Group (HAIN), headquartered in Melville, NY, is a leading natural and organic products company in North America and Europe.

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Post Written By: Ed Liston Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.