MELVILLE, N.Y., March 6, 2008 /PRNewswire-FirstCall via COMTEX/ -- The Hain Celestial Group, Inc. (HAIN) , a leading natural and organic food and personal care products company, today announced the acquisition of the MaraNatha(R) and SunSpire(R) brands and their nut butter manufacturing facility in Ashland, Oregon from American Capital Strategies, Ltd. (ACAS) . MaraNatha, a producer of natural and organic nut butters, and SunSpire, a maker of natural and organic chocolate products, are leading brands in their respective categories. A majority of the brands' sales are 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. 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. Each of these categories is poised for expansion in the natural and grocery channels," commented Irwin D. Simon, President and Chief Executive Officer of The Hain Celestial Group. "With consumers seeking the heart-health benefits of healthy fats from nuts and antioxidants in chocolate, we're excited about the opportunity to expand MaraNatha and SunSpire's product offerings in the snack category by offering innovative confectionary treats for children and adults," concluded Irwin Simon.
The MaraNatha and SunSpire brands generated sales of approximately $40 million in the United States and Canada in the last year. Terms of the acquisition, which closed today, 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 that include Celestial Seasonings(R), Terra(R), Garden of Eatin'(R), Health Valley(R), WestSoy(R), Earth's Best(R), Arrowhead Mills(R), MaraNatha(R), SunSpire(R), DeBoles(R), Hain Pure Foods(R), FreeBird(TM), Plainville Farms(R), Hollywood(R), Spectrum Naturals(R), Spectrum Essentials(R), Walnut Acres Organic(R), Imagine(R), Rice Dream(R), Soy Dream(R), Rosetto(R), Ethnic Gourmet(R), Yves Veggie Cuisine(R), Granose(R), Realeat(R), Linda McCartney(R), Lima(R), Grains Noirs(R), Natumi(R), JASON(R), Zia(R) Natural Skincare, Avalon Organics(R), Alba Botanica(R), Queen Helene(R), Tushies(R) and TenderCare(R). Hain Celestial has been providing "A Healthy Way of Life" since 1993. For more information, visit www.hain-celestial.com.
Safe Harbor Statement
This press release contains forward-looking statements within and constitutes a "Safe Harbor" statement under the Private Securities Litigation Act of 1995. Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements that involve known and unknown risks and uncertainties, which could cause our actual results to differ materially from those described in the forward- looking statements. These risks include but are not limited to general economic and business conditions; our ability to implement our business and acquisition strategy; our ability to effectively integrate our acquisitions; competition; availability and retention of key personnel; our reliance on third party distributors, manufacturers and suppliers; changes in customer preferences; international sales and operations; the results the SEC's inquiry into our stock option practices; changes in, or the failure to comply with, government regulations; and other risks detailed from time-to-time in the Company's reports filed with the SEC, including the annual report on Form 10- K, for the fiscal year ended June 30, 2007. As a result of the foregoing and other factors, no assurance can be given as to future results, levels of activity and achievements and neither the Company nor any person assumes responsibility for the accuracy and completeness of these statements.