COLUMBIA, Md., and MELVILLE, N.Y., Aug 08, 2006 /PRNewswire-FirstCall via COMTEX/ -- Omega-3 DHA innovator Martek Biosciences Corporation and The Hain Celestial Group, Inc., a leading natural and organic food and personal care products company, announced today that they have entered into a license and supply agreement whereby Martek will serve as the exclusive DHA and ARA supplier for all Hain Celestial infant formula products in the United States. The companies also announced that they are in discussions regarding the potential expansion of this relationship into other food and beverage products. Martek produces DHA, a vegetarian source of the omega-3 fatty acid DHA (docosahexaenoic acid) and ARA (arachidonic acid), an omega-6 fatty acid.
Hain Celestial recently unveiled a new infant formula as part of the Earth's Best(R) brand, the leading brand of organic baby and toddler food sold in natural food stores and the fastest growing organic baby food brand in grocery stores. Earth's Best Infant Formula meets the requirements of the U.S. Food and Drug Administration for infant formula and is produced without the use of antibiotics, genetically engineered ingredients, or artificial flavors, colors or preservatives. In addition, Earth's Best Infant Formula will contain levels of DHA and ARA that have been shown through research to optimize brain and eye development. Hain Celestial chose Martek since Martek's vegetarian DHA and ARA are consistent with Hain Celestial's commitment to provide only the highest quality natural and organic foods.
"We are excited about the developing science of DHA and ARA and our role in bringing its health benefits to babies through our Earth's Best infant formula," said Irwin D. Simon, President and Chief Executive Officer of Hain Celestial. "Hain Celestial chose Martek for its high quality DHA and ARA, and we are looking forward to incorporating DHA into our great-tasting and healthy food products."
Martek manufactures nutritional oils that contain the long-chain polyunsaturated fatty acids DHA and ARA, both of which are naturally present in breast milk. Clinical studies have demonstrated benefits for infants receiving DHA and ARA supplemented formula. Martek's proprietary blend of DHA and ARA is the only source of these nutrients currently used in U.S. infant formula and infant formula containing Martek's DHA and ARA is currently sold in more than 65 countries worldwide.
"Martek finds it rewarding to partner with a company that is committed to the health of infants by providing a product that contains high quality, safe DHA and ARA at levels shown to support brain and eye development." said Steve Dubin, president and CEO of Martek Biosciences Corporation. "We look forward to working with Hain Celestial, the company that makes many of the world's most trusted and sought after natural and organic food and personal care products."
Martek Biosciences Corporation
Martek Biosciences Corporation (MATK) is a leader in the innovation and development of omega-3 DHA products that promote health and wellness through every stage of life. The Company produces Martek DHA(TM), a vegetarian source of the omega-3 fatty acid DHA (docosahexaenoic acid), for use in foods, infant formula, and supplements, and ARA (arachidonic acid), an omega-6 fatty acid, for use in infant formula. For more information on Martek Biosciences, visit www.martek.com.
The Hain Celestial Group
The Hain Celestial Group (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 with well-known brands that include Celestial Seasonings(R), Terra Chips(R), Garden of Eatin'(R), Health Valley(R), WestSoy(R), Earth's Best(R), Arrowhead Mills(R), DeBoles(R), Hain Pure Foods(R), FreeBird(TM), Hollywood(R), Spectrum Naturals(R), Spectrum Essentials(R), Walnut Acres Organic(TM), Imagine Foods(R), Rice Dream(R), Soy Dream(R), Rosetto(R), Ethnic Gourmet(R), Yves Veggie Cuisine(R), Linda McCartney(R), Lima(R), Biomarche(TM), Grains Noirs(R), Natumi(R), JASON(R), Zia(R) Natural Skincare and Queen Helene(R). For more information, visit www.hain-celestial.com.
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 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; the ability to implement business and acquisition strategies, and integrate acquisitions; competition; retention of key personnel; compliance with government regulations and other risks detailed from time-to-time in the Hain Celestial's reports filed with the Securities and Exchange Commission, including, but not limited to, the report on Form 10-K for the fiscal year ended June 30, 2005, and Martek's reports filed with the Securities and Exchange Commission, including, but not limited to, Part II, Item 1A of Martek's Form 10-Q for the fiscal quarter ended April 30, 2006 and other filed reports on Form 10-K/A, Form 10-Q and Form 8-K. The forward-looking statements made in this press release are current as of the date of this press release, and neither Hain Celestial nor Martek undertakes any obligation to update forward-looking statements.