The Hain Celestial Group, Inc. (Nasdaq: HAIN) is expanding its meat and dairy-free product lines through the acquisition of UK-based Haldane Foods Ltd. from Archer Daniels Midland.
“We see Haldane Foods’ frozen meat-free business as a complimentary fit with our Linda McCartney brand,” commented Irwin D. Simon, President and CEO of The Hain Celestial Group. “Additionally, as we continue to build our natural and organic portfolio in the region, the expertise that Haldane brings, particularly in Soya based products, will further enhance our growth plans. We have a growing non-dairy beverage business in the UK through our Soy Dream and Rice Dream brands where having an established manufacturing base in the region will further support our ambition in this sector of the market.”
In its last fiscal year, Haldane’s sales exceeded 10 million pounds sterling. The terms of the acquisition were not disclosed. The transaction is expected to be accretive to Hain Celestial’s earnings during its fiscal year 2008.
The Hain Celestial Group, based in Melville, NY, owns many of the natural food and personal care most celebrated brands: Celestial Seasonings , Terra Chips , Garden of Eatin’ , Health Valley , WestSoy , Earth’s Best , Arrowhead Mills , DeBoles , Hain Pure Foods , FreeBird(TM), Hollywood , Spectrum Naturals , Spectrum Essentials , Walnut Acres Organic(TM), Imagine Foods(TM), Rice Dream , Soy Dream , Rosetto , Ethnic Gourmet(TM), Yves Veggie Cuisine , Linda McCartney , Lima , Grains Noirs , Natumi , JASON , Zia Natural Skincare and Queen Helene.
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