MELVILLE, N.Y., Aug 03, 2005 /PRNewswire-FirstCall via COMTEX/ -- The Hain Celestial Group, Inc. ("Hain Celestial") (HAIN), a leading natural and organic food and personal care products company, today announced the signing of investment agreements between Hain Celestial and Yeo Hiap Seng Limited and its subsidiary ("YHS"), a Singapore-based natural food and beverage company listed on the Singapore Stock Exchange, and their intention to pursue joint interests in food marketing and product development. Under the terms of the agreement, each company will make an equity investment in the shares of the other company.
Hain Celestial and YHS intend to jointly pursue opportunities in research and development in areas of food and nutrition, marketing, branding and the expansion of distribution channels and geographical markets as well as cross- selling, spanning Asia including Singapore, Malaysia, Hong Kong and China and in the United States, Canada and Europe.
"Building on the infrastructure of YHS and the Yeo's brand of products, we see a tremendous opportunity for Hain Celestial to source our products in Asia and to bring our natural and organic products into the Asian market," said Irwin D. Simon, President and Chief Executive Officer of Hain Celestial. "Additionally, we are excited to work with YHS to expand the Yeo's brand of beverages and food products in our markets as part of the alliance."
Hain Celestial is scheduled to present at the Adams Harkness 25th Annual Summer Seminar on Wednesday, August 3, 2005.
The Hain Celestial Group, Inc.
The Hain Celestial Group, Inc. (HAIN), 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(R), Terra Chips(R), Garden of Eatin'(R), Health Valley(R), WestSoy(R), Earth's Best(R), Arrowhead Mills(R), Hain Pure Foods(R), Hollywood(R), Walnut Acres Organic(R), Imagine Foods(R), Rice Dream(R), Soy Dream(R), Rosetto(R), Ethnic Gourmet(R), Yves Veggie Cuisine(R), Lima(R), Biomarche(R), Grains Noirs(R), Natumi(R), JASON(R) and Zia(R) Natural Skincare. For more information, visit http://www.hain-celestial.com.
Yeo Hiap Seng Limited
YHS, with a history dating back to 1900, is a leading food and beverage manufacturer and distributor of 30 beverages and a range of Asian food products and sauces under its Yeo's brand. A household name in Singapore and Malaysia, YHS distributes its in-house and external brands to several global markets including China, Australia, Europe and North America. Known for their natural goodness, Yeo's products can be found in more than 100 countries worldwide. YHS is a publicly-listed arm of Far East Organization (http://www.fareast.com.sg), Singapore's largest privately-owned property developer. For more information visit http://www.yeos.com.sg.
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; integrate acquisitions; obtain financing for general corporate purposes; competition; retention of key personnel; compliance with government regulations; and other risks detailed from time-to-time in Hain Celestial reports filed with the Securities and Exchange omission, including the report on Form 10-K for the fiscal year ended June 30, 2004. The forward- looking statements made in this press release are current as of the date of this press release, and Hain Celestial does not undertake any obligation to update forward-looking statements.