The Hain Celestial Group, Inc. (Nasdaq: HAIN) has acquired the business and assets of Para Laboratories, Inc. including the Queen Helene, Batherapy and Footherapy brands.
Since 1930, Para Labs has offered skin care, hair care and body care products through drug stores, supermarkets and mass retailers. Para Labs’ product line complements Hain Celestial’s Jason natural and organic oral, body and hair care, Zia premium skin care and Earth’s Best baby body care in the fast-growing natural health and personal care products category.
In its last fiscal year, Para Laboratories sales totaled approximately $20 million. The terms of the acquisition, which closed on March 3, 2006, were not disclosed. The transaction is expected to be accretive to Hain Celestial’s earnings during its fiscal year 2007.
“I am excited about the great brands Para Labs adds to our growing portfolio of personal care products,” said Irwin D. Simon, President and CEO of The Hain Celestial Group. “The acquisition of these brands brings us closer to our objective to build a $100 million Personal Care business through internal growth and acquisitions, as this is our third acquisition in the personal care products category since June 2004. The distribution of these brands in chain drug and mass channels will enable us to extend our other products in those channels with our Jason, Zia and Earth’s Best brands. We are also pleased to expand our management team under Andrew H. Jacobson as the third generation from Para Labs, Steve Estrin and Joel Estrin, join us in executive positions in Personal Care,” concluded Irwin Simon.
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