The Hain Celestial Group, Inc. (Nasdaq: HAIN), a natural and organic food and personal care products company, announced the acquisition of Daily Bread, Ltd., a London-based producer of branded, fresh-prepared foods for the foodservice industry in the United Kingdom.
Daily Bread is an accredited supplier to Buckingham Palace, museums, sporting establishments, companies and event caterers, and since 2003, Daily Bread has held a Royal Warrant, by Appointment to Her Majesty the Queen.
"Building upon the foundation established by our entry into the United Kingdom nearly two years ago, Daily Bread(TM) strengthens our existing prepared foods operation with a branded fresh platform, primarily serving the United Kingdom market," said Irwin D. Simon, President and CEO of The Hain Celestial Group.
"We’re pleased to be joined by Timothy J. Roupell, founder of Daily Bread over 20 years ago, as Executive Director- Daily Bread, who will report to David Arrow, Managing Director-Hain Celestial UK. Tim will further the efforts of Hain Celestial UK’s team in delivering a broad-based fresh prepared foods offering to capitalize on the growth opportunities that exist in this category."
Daily Bread generated approximately 12 million pounds Sterling (US$24 million) in continuing sales in its last fiscal year. Terms of the acquisition, which closed yesterday, 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, 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 with well-known brands since 1993.
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