Hain Celestial’s Sale Of Own-Label Juice Business To Multiple Marketing Ltd. Approved By Competition And Markets Authority
LAKE SUCCESS, N.Y., Sept. 23, 2016
LAKE SUCCESS, N.Y., Sept. 23, 2016 /PRNewswire/ — The Hain Celestial Group, Inc. (Nasdaq: HAIN), a leading organic and natural products company with operations in North America, Europe and India providing consumers with A Healthier Way of Life™, today announced the acceptance by the Competition and Markets Authority (“CMA”) of Hain Celestial’s undertaking to sell its own-label freshly squeezed fruit juice business including the related Headcorn facility and the approved sale of the business to Multiple Marketing Ltd. The own-label juice business generated approximately £20 million in net sales for year ended June 30, 2016.
“We are excited to receive the acceptance of our undertaking to sell our own-label freshly squeezed fruit juice business from the CMA. Under Hain Celestial United Kingdom we look to expand our presence in the on-trend fresh category with prepared fruit, drinks and desserts under the leadership of James Skidmore, Chief Executive Officer,” said Irwin D. Simon, Founder, President and Chief Executive Officer of Hain Celestial. “With the completion of the CMA review, we expect to deliver sales and operating efficiencies with the integration of Orchard House into Hain Celestial United Kingdom and seek new product development in cold pressed juice and branded fruit product offerings in the United Kingdom and Continental Europe.”
On December 22, 2015, Hain Celestial announced the acquisition by Hain Celestial United Kingdom, through one of its wholly-owned subsidiaries, of Orchard House Foods Limited (“Orchard House”), a leader in prepared fruit, juices, fruit desserts and ingredients with facilities in Corby and Gateshead in the United Kingdom. On May 17, 2016, the CMA announced that the acquisition gave rise to a loss of competition and would be referred to a more in-depth review unless an acceptable undertaking was offered to address the concern.
The Hain Celestial Group, Inc.
The Hain Celestial Group (Nasdaq: HAIN), headquartered in Lake Success, NY, is a leading organic and natural products company with operations in North America, Europe and India. Hain Celestial participates in many natural categories with well-known brands that include Celestial Seasonings, Earth’s Best, Ella’s Kitchen, Terra, Garden of Eatin’, Sensible Portions, Health Valley, Arrowhead Mills, MaraNatha, SunSpire, DeBoles, Casbah, Rudi’s Organic Bakery, Hain Pure Foods, Spectrum, Spectrum Essentials, Imagine, Almond Dream, Rice Dream, Soy Dream, WestSoy, The Greek Gods, BluePrint, FreeBird, Plainville Farms, Empire, Kosher Valley, Yves Veggie Cuisine, Europe’s Best, Cully & Sully, New Covent Garden Soup Co., Johnson’s Juice Co., Farmhouse Fare, Hartley’s, Sun-Pat, Gale’s, Robertson’s, Frank Cooper’s, Linda McCartney, Lima, Danival, Happy, Joya, Natumi, GG UniqueFiber, Tilda, JASON, Avalon Organics, Alba Botanica, Live Clean and Queen Helene. Hain Celestial has been providing A Healthier Way of Life™ since 1993. For more information, visit www.hain.com.
Safe Harbor Statement
Certain statements contained in this press release constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are predictions based on expectations and projections about future events, and are not statements of historical fact. You can identify forward-looking statements by the use of forward-looking terminology such as “plan”, “continue”, “expect”, “anticipate”, “intend”, “predict”, “project”, “estimate”, “likely”, “believe”, “might”, “seek”, “may”, “remain”, “potential”, “can”, “should”, “could”, “future” and similar expressions, or the negative of those expressions. These forward-looking statements include the Company’s beliefs or expectations relating to (i) product offerings and development; (ii) sales and operating efficiencies; and (iii) growth and distribution opportunities. Such forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, levels of activity, performance or achievements of the Company, or industry results, to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, general economic and financial market conditions; competition; our ability to respond to changes and trends in customer and consumer demand, preferences and consumption; our reliance on third party distributors, manufacturers and suppliers; the consolidation or loss of a significant customer; our ability to introduce new products and improve existing products; availability and retention of key personnel; our ability to effectively integrate our acquisitions; our ability to successfully consummate any proposed divestitures; liabilities arising from potential product recalls, market withdrawals or product liability claims; outbreaks of diseases or food-borne illnesses; potential litigation; the availability of organic and natural ingredients; our ability to manage our supply chain effectively; changes in fuel, raw material and commodity costs; effects of climate change on our business and operations; our ability to offset input cost increases; the interruption, disruption or loss of operations at one or more of our manufacturing facilities; the loss of one or more of our independent co-packers; the disruption of our transportation systems; risks associated with expansion into countries in which we have no prior operating experience; risks associated with our international sales and operations, including foreign currency risks; impairment in the carrying value of our goodwill or other intangible assets; our ability to use our trademarks; reputational damage; changes in, or the failure to comply with, government laws and regulations; liabilities or claims with respect to environmental matters; our reliance on independent certification for our products; a breach of security measures; our reliance on our information technology systems; effects of general global capital and credit market issues on our liquidity and cost of borrowing; potential liabilities not covered by insurance; the ability of joint venture investments to successfully execute business plans; dilution in the value of our common shares; and the other risks detailed from time-to-time in the Company’s reports filed with the Securities and Exchange Commission, including the annual report on Form 10-K for the fiscal year ended June 30, 2015. As a result of the foregoing and other factors, no assurance can be given as to the future results, levels of activity and achievements of the Company, and neither the Company nor any person assumes responsibility for the accuracy and completeness of these statements.
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SOURCE The Hain Celestial Group, Inc.