The Hain Celestial Group, Inc. (Nasdaq: HAIN), a leading natural and organic food and personal care products company, today announced the acquisition of the MaraNatha® and SunSpire® brands and their nut butter manufacturing facility in Ashland, Oregon from American Capital Strategies, Ltd. (Nasdaq: ACAS).
MaraNatha, a producer of natural and organic nut butters, and SunSpire, a maker of natural and organic chocolate products, currently sell the majority of their products through natural food retailers.
"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." Irwin D. Simon, President and CEO of The Hain Celestial Group, said.
"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" Simon added.
The MaraNatha and SunSpire brands generated sales of approximately $40 million in the United States and Canada in the last year, according to a Hain Celestial release.
Terms of the acquisition were not disclosed. The transaction is expected to be accretive to Hain Celestial’s earnings during its fiscal year 2009.
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.
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