Hain Celestial Announces Accretive Strategic Acquisition
The Hain Celestial Group, Inc., an organic and natural products company with operations in North America, Europe and India providing consumers with A Healthier Way of Life™, announce the acquisition by Hain Celestial United Kingdom, through one of its wholly-owned subsidiaries, of Orchard House Foods Limited ("Orchard House"), a company in prepared fruit, juices, fruit desserts and ingredients with facilities in Corby and Gateshead in the United Kingdom. Orchard House supplies retailers, on-the-go food outlets, food service providers and manufacturers in the United Kingdom.
"We are excited about the acquisition of Orchard House, which expands our presence in the on-trend fresh category with prepared fruit, drinks and desserts. Orchard House provides us with the opportunity to expand fruit product offerings into continental Europe, as well as new product development with cold pressed juice and branded fruit product offerings in the United Kingdom. Additionally, we expect sales and operating efficiencies in terms of fruit procurement across our businesses around the world," says Irwin D. Simon, founder, president and chief executive officer of Hain Celestial. "Along with the acquisition comes innovative new processing technology to expand the shelf life of fresh fruit and juices. We also believe there may be opportunities to leverage Orchard House's expertise into new branded product offerings in fruit, juice and bars under the Ella's Kitchen®, Hartley's®, Johnson's Juice Co.® and Sun-Ripe® brands."
"This is a truly exciting acquisition, increasing our product offerings to meet consumers' desire for a healthier lifestyle and the "5 A DAY" Live Well Healthy Living for Everyone" initiative in the United Kingdom. Orchard House brings new capacity and opportunities for accelerated growth across a number of categories, including the development of our existing branded ranges and new brands presently being prepared for launch," says Jeremy Hudson, chief executive officer of Hain Daniels Group.
"We welcome James Skidmore, Managing Director, who will report to Jeremy Hudson, and we look forward to working with James and the rest of the leadership team to expand our business in the United Kingdom and into continental Europe," concludes Simon.
In fiscal year 2016 the company expects between approximately $60 and $65 million in net sales and modest accretion to Hain Celestial's earnings from Orchard Foods. Founded in 1985, Orchard House was owned by Wellness Foods Ltd. The acquisition requires formal clearance from the Competition Market Authority in the United Kingdom. Until formal clearance has been received, Hain Daniels and Orchard House will continue to operate independently; thereafter, the company expects to deliver synergies and explore growth opportunities. The financial results of Orchard House will be consolidated into the company's United Kingdom operating segment.
"We are excited about the acquisition of Orchard House, which expands our presence in the on-trend fresh category with prepared fruit, drinks and desserts. Orchard House provides us with the opportunity to expand fruit product offerings into continental Europe, as well as new product development with cold pressed juice and branded fruit product offerings in the United Kingdom. Additionally, we expect sales and operating efficiencies in terms of fruit procurement across our businesses around the world," says Irwin D. Simon, founder, president and chief executive officer of Hain Celestial. "Along with the acquisition comes innovative new processing technology to expand the shelf life of fresh fruit and juices. We also believe there may be opportunities to leverage Orchard House's expertise into new branded product offerings in fruit, juice and bars under the Ella's Kitchen®, Hartley's®, Johnson's Juice Co.® and Sun-Ripe® brands."
"This is a truly exciting acquisition, increasing our product offerings to meet consumers' desire for a healthier lifestyle and the "5 A DAY" Live Well Healthy Living for Everyone" initiative in the United Kingdom. Orchard House brings new capacity and opportunities for accelerated growth across a number of categories, including the development of our existing branded ranges and new brands presently being prepared for launch," says Jeremy Hudson, chief executive officer of Hain Daniels Group.
"We welcome James Skidmore, Managing Director, who will report to Jeremy Hudson, and we look forward to working with James and the rest of the leadership team to expand our business in the United Kingdom and into continental Europe," concludes Simon.
In fiscal year 2016 the company expects between approximately $60 and $65 million in net sales and modest accretion to Hain Celestial's earnings from Orchard Foods. Founded in 1985, Orchard House was owned by Wellness Foods Ltd. The acquisition requires formal clearance from the Competition Market Authority in the United Kingdom. Until formal clearance has been received, Hain Daniels and Orchard House will continue to operate independently; thereafter, the company expects to deliver synergies and explore growth opportunities. The financial results of Orchard House will be consolidated into the company's United Kingdom operating segment.