The Hain Celestial Group Enters Into Negotiations for Linda McCartney Brand Frozen Meat-Free Business
MELVILLE, N.Y., May 3, 2006 /PRNewswire-FirstCall via COMTEX News Network/ -- The Hain Celestial Group, Inc. (Nasdaq: HAIN) today announced that it has entered into advanced negotiations to acquire the frozen meat-free business based in Fakenham, England, including the Linda McCartney brand (under license), from the H. J. Heinz Company. The transaction is subject to a third party licensing arrangement, which is in a preliminary stage. It is expected that the potential acquisition of the business would be completed in June.
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"We are excited with the prospect of adding the Linda McCartney line of vegetarian products to our natural and organic portfolio of brands, and we look forward to the potential of working with Sir Paul McCartney and his family in developing a wide array of Linda McCartney vegetarian products throughout Europe and North America," commented Irwin Simon, President and Chief Executive Officer of The Hain Celestial Group.
Representatives of Sir Paul McCartney added, "The McCartney family looks forward to working with Hain Celestial to expand the Linda McCartney brand in Europe and North America."
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