The Hain Celestial Group Acquires Fresh Prepared Foods Business of H. J. Heinz Company in Luton, England
MELVILLE, N.Y., May 3, 2006 /PRNewswire-FirstCall via COMTEX News Network/ -- The Hain Celestial Group, Inc. (Nasdaq: HAIN) today announced the expansion of its European operations with the acquisition of the fresh prepared foods business based in Luton, England from the H. J. Heinz Company, which generated approximately 30 million pounds sterling in sales during calendar year 2005. The terms of the acquisition were not disclosed.
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"The Luton-based fresh prepared foods operation will provide us with a strong foothold and a full infrastructure in the United Kingdom, from which we can grow operations and product distribution," commented Irwin D. Simon, President and Chief Executive Officer of Hain Celestial. "As we expand our European business with fresh prepared foods and natural and organic products including non-dairy beverages, tea, grocery and snacks products, we look to streamline this business to focus on our core strategy and to divest those businesses that do not complement our growth plan."
"We are also pleased to announce the appointment of David Arrow as Managing Director - Hain Celestial United Kingdom. David will lead our efforts in the region reporting to Philippe Woitrin, Chief Executive Officer - Hain Celestial Europe," said Irwin D. Simon.
David Arrow is a seasoned veteran of the food industry in the United Kingdom having held various positions with Sara Lee Bakeries and Express Dairies, among other companies. Most recently, Mr. Arrow led the successful turnaround of Cauldron Foods, which was ultimately acquired by Premier Foods plc in late 2005.
The transaction is expected to be accretive to the earnings of Hain Celestial during its fiscal year 2007. During its fiscal year ended June 30, 2005, Hain Celestial Europe generated $84 million in sales.
The Hain Celestial Group
The Hain Celestial Group (Nasdaq: HAIN), headquartered in Melville, NY, is a leading natural and organic food and personal care products company in North America and Europe. Hain Celestial participates in almost all natural food categories with well-known brands that include Celestial Seasonings(R), Terra Chips(R), Garden of Eatin'(R), Health Valley(R), WestSoy(R), Earth's Best(R), Arrowhead Mills(R), DeBoles(R), Hain Pure Foods(R), Raised Right(TM), Hollywood(R), Spectrum Naturals(R), Spectrum Essentials(R), Walnut Acres Organic(TM), Imagine Foods(R), Rice Dream(R), Soy Dream(R), Rosetto(R), Ethnic Gourmet(R), Yves Veggie Cuisine(R), Lima(R), Biomarche(TM), Grains Noirs(R), Natumi(R), JASON(R), Zia(R) Natural Skincare, Queen Helene(R), Batherapy(R) and Footherapy(R). For more information, visit http://www.hain-celestial.com .
Safe Harbor Statement
This press release contains forward-looking statements within and constitutes a "Safe Harbor" statement under the Private Securities Litigation Act of 1995. Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements that involve known and unknown risks and uncertainties, which could cause our actual results to differ materially from those described in the forward- looking statements. These risks include but are not limited to general economic and business conditions; the ability to implement business and acquisition strategies, and integrate acquisitions; competition; retention of key personnel; compliance with government regulations and other risks detailed from time-to-time in the Company's reports filed with the Securities and Exchange Commission, including the report on Form 10-K for the fiscal year ended June 30, 2005. The forward-looking statements made in this press release are current as of the date of this press release, and the Company does not undertake any obligation to update forward-looking statements.
SOURCE The Hain Celestial Group, Inc.
Ira Lamel or Mary Anthes, both of The Hain Celestial Group, Inc., +1-631-730-2200;
Jeremy Fielding or David Lilly, both of Kekst and Company for The Hain Celestial
Group, Inc., +1-212-521-4800