Hain Celestial Licenses Rice Dream(R) and Soy Dream(R) to Stremicks Heritage Foods(TM)
MELVILLE, N.Y., Aug 24, 2005 /PRNewswire-FirstCall via COMTEX/ -- The Hain Celestial Group, Inc. ("Hain Celestial") (Nasdaq: HAIN), a leading natural and organic food and personal care products company, today announced the signing of a licensing agreement with Stremicks Heritage Foods, LLC ("Heritage Foods") a family-owned and family-operated manufacturer and distributor of organic products, for the trademarks and formulas of Hain Celestial's refrigerated Rice Dream(R) and Soy Dream(R) non-dairy beverage products. Effective October 1, 2005, Heritage Foods will manufacture, market and distribute Rice Dream and Soy Dream refrigerated products exclusively throughout the United States, which is expected to benefit both companies with increased distribution. Hain Celestial will continue to focus on its core competency, the shelf stable aseptic business, maintaining category leadership through increased distribution and innovation.
"We are pleased to license our Rice Dream and Soy Dream refrigerated non- dairy beverage production and marketing to Heritage Foods, a well-respected leader in the organic industry," said Irwin D. Simon, President and Chief Executive Officer of Hain Celestial. "This agreement is a natural evolution from our partnering with Heritage Foods as contract manufacturer, which should broaden our non-dairy beverage distribution, an area where Heritage Foods is a known leader. Additionally, this initiative allows us to focus on our aseptic products while Heritage complements our efforts in refrigerated non-dairy beverages and enables us to accelerate growth in the non-dairy category."
Louis J. Stremick, President and Chief Executive Officer of Heritage Foods added, "We are pleased to extend our relationship with Hain Celestial and feature Rice Dream and Soy Dream refrigerated non-dairy beverages as brands entrusted to Heritage Foods. At Heritage Foods, we produce and sell the highest quality products at affordable prices for consumers to enjoy."
The Hain Celestial Group, Inc.
The Hain Celestial Group, Inc. (Nasdaq: HAIN), headquartered in Melville, NY, is a leading natural and organic beverage, snack, specialty 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), Hain Pure Foods(R), Hollywood(R), Walnut Acres Organic(R), Imagine Foods(R), Rice Dream(R), Soy Dream(R), Rosetto(R), Ethnic Gourmet(R), Yves Veggie Cuisine(R), Lima(R), Biomarche(R), Grains Noirs(R), Natumi(R), JASON(R) and Zia(R) Natural Skincare. 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; integrate acquisitions; obtain financing for general corporate purposes; competition; retention of key personnel; compliance with government regulations; and other risks detailed from time-to-time in Hain Celestial reports filed with the Securities and Exchange Commission, including the report on Form 10-K for the fiscal year ended June 30, 2004. The forward- looking statements made in this press release are current as of the date of this press release, and Hain Celestial 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