MELVILLE, N.Y., Dec 11, 2006 /PRNewswire-FirstCall via COMTEX/ -- The Hain Celestial Group, Inc. (HAIN) today announced the acquisition of the assets of Haldane Foods Limited and its meat-free and non-dairy beverage business based in Newport Pagnell, United Kingdom from the Archer Daniels Midland Company. With a heritage of over 100 years, Haldane brings a wealth of experience and know-how to the healthy foods sector through an extensive product line including Realeat frozen foods; Granose, Direct Foods and Realeat dry mixes; and Granose and White Wave non-dairy beverages.
"We are excited by the prospect of adding Haldane Foods to our UK business and see their frozen meat-free business as a complimentary fit with our Linda McCartney(R) brand," commented Irwin D. Simon, President and Chief Executive Officer of The Hain Celestial Group. "Additionally, as we continue to build our natural and organic portfolio in the region, the expertise that Haldane brings, particularly in Soya based products, will further enhance our growth plans. We have a growing non-dairy beverage business in the UK through our Soy Dream(R) and Rice Dream(R) brands where having an established manufacturing base in the region will further support our ambition in this sector of the market," concluded Irwin Simon.
In its last fiscal year, the sales of Haldane Foods exceeded 10 million pounds sterling. The terms of the acquisition were not disclosed. The transaction is expected to be accretive to Hain Celestial's earnings during its fiscal year 2008.
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(TM), Rice Dream(R), Soy Dream(R), Rosetto(R), Ethnic Gourmet(TM), Yves Veggie Cuisine(R), Linda McCartney(R), Lima(R), Grains Noirs(R), Natumi(R), JASON(R), Zia(R) Natural Skincare and Queen Helene(R). For more information, visit http://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; 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 Company's reports filed with the Securities and Exchange Commission, including the report on Form 10-K for the fiscal year ended June 30, 2006. The forward-looking statements made in this press release are current as of the date of this press release, and the Company does not undertake any obligation to update forward-looking statements.