The Hain Celestial Group Acquires the Assets of Haldane Foods Limited
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.
12/12/06 The Hain Celestial Group, Inc. 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 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 and Rice Dream 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.
