Hain Celestial Secures $400 Million Line of Credit

The Hain Celestial Group Inc. has obtained a five-year, unsecured $400 million credit facility, which will be used to expand the natural and organic food producer's business.

The company said the facility was led by Bank of America Merrill Lynch.

"With consumers increasingly focused on health and nutrition, this financing will enable us to maintain flexibility with our working capital and provide access to acquisition financing to support our strategic growth," chief financial officer Ira Lamel said in a news release.

The company makes brands such as Earth's Best, Celestial Seasonings, Terra, Garden of Eatin' and Arrowhead Mills.

Shares of Hain rose 23 cents to $20.09 in morning trading Wednesday.

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