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Hain Celestial Closes on Poultry Acquisition

The Hain Celestial Group, Inc. (Nasdaq: HAIN), a leading natural and organic food and personal care products company, has completed the acquisition of the poultry processing facility assets of College Hill Poultry of Fredericksburg, PA. It was acquired through Hain Pure Protein Corporation, which is a joint venture with Pegasus Capital Advisors, LP, a private equity firm. Hain Celestial will control 50.1% of the joint venture. College Hill Poultry’s Raised Right(TM) brand of natural and organic, free range chicken are raised on family farms and grain-fed without anti-biotics or animal by-products. The company will be led by Joseph A. DePippo, an industry veteran, as President of Hain Pure Protein Corporation. The Hain Celestial Group (NASDAQ: HAIN – News), headquartered in Melville, NY, is a leading natural and organic beverage, snack, specialty food and personal care products company in North America and Europe. Hain Celestial participates in almost all natural food categories with well-known brands that include Celestial Seasonings, Terra Chips, Garden of Eatin’, Health Valley, WestSoy, Earth’s Best, Arrowhead Mills, Hain Pure Foods, Hollywood, Walnut Acres Organic, Imagine Foods, Rice Dream, Soy Dream, Rosetto, Ethnic Gourmet, Yves Veggie Cuisine, Lima, Biomarch, Grains Noirs, Natumi, JASON and Zia Natural Skincare. Website: […]

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Carmanah Completes Acquisition of Soltek

Carmanah Technologies Corporation (Vancouver:CMH.V) has acquired all the issued and outstanding shares of Soltek Powersource Ltd., a manufacturer/supplier of solar power systems for industrial, government, residential and retail applications. This acquisition joins two complementary companies — Carmanah with its self-contained solar packages and proprietary LED technology, and SPS with its large-scale solar power systems — to form a new company capable of providing solar products internationally. The solar industry grew by an unprecedented 62% in 2004 to $6.5 billion, and is predicted to grow 300% to $18.5 billion by 2010. Carmanah anticipates that a new range of solar/LED general illumination products will be developed, including security lighting, street lighting and sign lighting, for applications in all the markets the Company currently serves. An entirely new product line of standardized “plug-and-play” solar power sources will also be possible, which would capitalize on SPS’s existing range of “solar engines” and Carmanah’s world-leading energy management technology. Carmanah acquired SPS for $12 million. Subject to closing adjustments for working capital, $6 million was paid in cash from existing funds and $4 million equivalent in common shares at $2.66 per share. An additional contingent payment of up to $2 million worth of common shares at […]

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