Hain Celestial Acquires Two Brands
"Adding the category leader MaraNatha to our natural and organic portfolio of brands strengthens Hain Celestial's position in the growing nut butter category and expands our variety of offerings with almond, cashew, macadamia and other blended nut butters. Additionally, SunSpire, with its natural and organic chocolate products, provides an exciting entry into the natural candy category, including confectionary ingredients, where we do not have a presence today. Each of these categories is poised for expansion in the natural and grocery channels," commented Irwin D. Simon, president and chief executive officer of The Hain Celestial Group. "With consumers seeking the heart-health benefits of healthy fats from nuts and antioxidants in chocolate, we're excited about the opportunity to expand MaraNatha and SunSpire's product offerings in the snack category by offering innovative confectionary treats for children and adults," concluded Irwin Simon.
The MaraNatha and SunSpire brands generated sales of approximately $40 million in the U.S. and Canada in the last year. Terms of the acquisition, which closed today, were not disclosed. The transaction is expected to be accretive to Hain Celestial's earnings during its fiscal year 2009.
From the March 17, 2008, Prepared Foods e-Flash